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Cotton imports rise by 44pc in 11MFY21 - Newspaper


Pakistan produced barely 5.6 million bales in FY21. AFP/File
KARACHI: The country’s cotton imports hit $2.3 billion an increase of 44 per cent during July 2020-May 2021 (11MFY21) compared to the same period in the previous fiscal year.
The country produced barely 5.6 million bales in FY21. Despite higher orders and a number of incentives provided by the government to boost exports, poor cotton production and imported lint nullified the efforts of the textile sector.
However, instead of providing additional help to the cotton producing sector, Finance Minister Shaukat Tarin has increased sales tax on cotton to 17pc from the earlier 10pc. Cotton seed oil or banola, which earlier had zero tax, has been slapped with 17pc tax. ....

Shaukat Tarin , Bayer Crop Science Regulatory Team , Cotton Brokers Forum Nasim Usman , Federation Of Chambers Commerce , Pakistan Cotton Ginners Association Dr Jasomal , Finance Minister Shaukat Tarin , Chairman Cotton Brokers Forum Nasim Usman , Industry Pakistan , ஷௌுகத் தாரின் , பருத்தி தரகர்கள் மன்றம் நாசிம் உஸ்மேன் , கூட்டமைப்பு ஆஃப் அறைகள் வர்த்தகம் , தொழில் பாக்கிஸ்தான் ,

Cotton import bill hits $1.84bn in 9MFY21 - Newspaper


The 9MFY21 lint imports surpassed the FY20 total cotton import bill of $1.704bn. Cotton import bill in FY19 was $1.65bn. AFP/File
KARACHI: The country spent $1.838 billion on cotton imports during nine months of the current fiscal year (9MFY21) up 46 per cent from $1.258bn in the same period a year ago.
The 9MFY21 lint imports surpassed the FY20 total cotton import bill of $1.704bn. Cotton import bill in FY19 was $1.65bn.
Meanwhile, sharp decline in cotton production from over 14 million bales in 2012 to 5.6m bales this year has shattered the hopes of the textile industry which was seeking to improve its performance. ....

Nasim Usman , Asim Bajwa , Jesu Mal , Karachi Brokers Forum , Federation Of Chambers Commerce , Economic Coordination Committee , Karachi Brokers , Industry Pakistan , Bayer Crop Science Regulatory , China Pakistan Economic Corridor , Economic Coordination , நாசிம் உஸ்மேன் , அசிம் பஜ்வா , ஜேசு மால் , கூட்டமைப்பு ஆஃப் அறைகள் வர்த்தகம் , பொருளாதார ஒருங்கிணைப்பு குழு , தொழில் பாக்கிஸ்தான் , சீனா பாக்கிஸ்தான் பொருளாதார தாழ்வாரம் , பொருளாதார ஒருங்கிணைப்பு ,