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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 tarinBayer crop science regulatory teamCotton brokers forum nasim usmanFederation of chambers commercePakistan cotton ginners association dr jasomalFinance minister shaukat tarinChairman cotton brokers forum nasim usmanIndustry pakistanஷௌுகத் தாரின்பருத்தி தரகர்கள் மன்றம் நாசிம் உஸ்மேன்கூட்டமைப்பு ஆஃப் அறைகள் வர்த்தகம்தொழில் பாக்கிஸ்தான்