Meeting of Special Committee Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the Revival of Cotton Industry chaired by Malik Talat Sohail, convened a Pre -Budget meeting, here on Saturday.
According to a spokesperson, Patron-in-Chief SM Tanveer and Regional Chairman Punjab Zain Iftikhar Chaudhry were present in the meeting.
The meeting passed a resolution that increasing cotton production was indispensable for the economy. MPA Chaudhry Zia-ur-Rehman and Parliamentary Secretary Rana Muhammad Saleem represented the Punjab government. Rana Muhammad Saleem, while describing the cotton cultivation process in the province as satisfactory, said that the target of advanced cotton cultivation has been achieved and the process of traditional cultivation was underway, the desired targets will be completed in coming week. Referring to the various farmer-friendly policies of the Punjab government, he said that full attention was being paid on cotton production. SM Tanveer said that they were in constant contact with the Federal government and SIFC to increase cotton production. We are constantly engaged in increasing local cotton production.
Announcing a unanimous resolution at the end of the meeting, Chairman Malik Suhail said that the 18 percent GSTimposed on local cotton products, lint cotton, oil, seed cotton and oil cake should be abolished in the budget. The abolition of sales tax will increase cotton prices by Rs.1200 per mound. With the availability of a friendly environment for cotton research institutions, the production of varieties compatible with modern requirements will promote industry and trade along with reasonable wages for farmers, said a press release issued here.