Haroon Akhtar Khan, Special Assistant to the Prime Minister for Revenue welcomed the proposals presented by Pakistan Cotton Ginners Association (PCGA) and agreed to have further discussions on them. He also assured that the Federal Board of Revenue will give these proposals fair consideration in the best interest of farmers and agricultural economy of the country. He appreciated some of the proposals and stated the FBR will leave no stone unturned to facilitate the business community for better and prosperous Pakistan.
Haroon Akhtar also assured the delegation of Pakistan Cotton Ginners Association (PCGA) headed by its Chairman Dr Jassu Mal that special relief would be granted to ginning industry in taxes and significant incentives would also be announced for ginning sector which would be beneficial for the cotton growers indirectly. FBR's Member for inland revenue Dr Muhammad Iqbal, Member (Policy-Sales tax) Zulfikar Hussain also joined them. Haroon Akhtar Khan appreciated the suggestions and proposal of PCGA for boosting up the cotton production to meet the target of 20 million bales.
He assured that the government would make sure that all out efforts be made to increase the cotton production. The delegation reiterated its demand to remove the ambiguities of 1994 agreement reached between PCGA and the FBR and minimum tax be levied on ginners for the rehabilitation of ginning sector which is taking last breath. It said that free trading in cotton should be continued which safeguards the interests of all the stakeholders including the growers. The government should announce comprehensive cotton policy, fixed the minimum support-price of seed cotton(PHUTTI).It further said that Steps should be taken to increase the cotton production on the war-footing basis in the coming years to meet the rising requirement of the local textile industry, and also consider activating the research Organisation departments accordingly. Special emphasis should be laid on quantity and quality of cotton equally as Pakistan is lacking behind in both these areas.
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