The Pakistan Cotton Ginners Association (PCGA) will hold a meeting on January 16 to discuss the recent increase in income tax and to decide its next strategy. PCGA member and vice chairman of its north zone body Shehzad Khan told newsmen on Friday that the ginning factories have stopped buying lint (phutti) to protest against raise in tax.
He said that decision as to whether the owners should close down the factories or not would be taken in the general body meeting of PCGA on January 16. The levy of 3.5 percent income tax from January 1, 2011 would raise the tax per cotton-loaded trailer up to Rs 300,000 from current Rs 80000 per trailer, he added.