Page 4 - May-June-2018

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APTMA demands duty free cotton

imports; Exports surge by 15.28pc

Editor-in-Chief in 11 months; China retaliates to
Yousaf Fareed
25% tariff on Chinese imports by
Editor US; BCI Better Cotton accounts for
Hassan Saeed
14% of global cotton production
Sub-Editor
Ezzah Aqeel FBR has imposed custom duty on $1.620 billion in May 2017, the PBS
Alexandros Ali Khan imports of cotton and yarn to data revealed.
encourage use of local crop and
Advisory Board: save foreign exchange reserves. US government has imposed 25%
Dr. Tanveer Hussain But APTMA is severely against the tariffs on technological imports
Dr. Muhammad Tausif re-imposition of custom duty in worth $50 billion from China. In
Imran Sarwar cotton import. Mr Zahid Mazhar, retaliation Chinese government has
Senior Vice Chairman APTMA said announced to reciprocate the
Marketing Manager that 3% and additional 2% custom import tariffs on US imports.
Kainat Khan duty on cotton import with effect “Chinese imports will boost
Saeed Ahmed from 15th July, 2018 is the final nail China’s growth but hurt the United
in the coffin of ailing the textile States,” added Mr Donald Trump.
Layouts industry. Due to sales tax and However, National council of textile
Faizan Khan custom duty imposition on raw Organization representing
cotton, import of finished cotton domestic textile manufacturers
Marketing Incharge yarn have increased 500% in appealed and succeeded at the
Abdul Mughees 2016-17 as compared to 2011-12. removal of all textile machinery
Abdullah Khalid This policy instead of supporting products from the final list of tariff
manufacturing of cotton yarns in lines as the tariffs would hinder the
Adddress Pakistan is rather helping the yarn US textile manufacturer’s
C-302, City Towers manufacturing industry of other competitiveness.
Main Boulevard, Gulberg II countries competing against Pakistan.
Lahore-Pakistan BCI 2017 annual report launched
The exports from the country at the BCI Global Cotton
Phone: + 92 42 35 788 700 during July-May (2017-18) stood at Conference revealed Better Cotton
Fax: + 92 42 35 788 700 $21.346 billion against the exports accounts for 14% of cotton
of $18.516 billion in July-May production globally with an
Email: info@textalks.com (2016-17), showing growth of increase of 2% on 2016. During
Skype: textalks 15.28 percent, according to the 2018-17 cotton season, 1.3 million
latest data of Pakistan Bureau of licensed BCI farmers produced 3.3
www.textalks.com Statistics (PBS). Meanwhile, on million metric tonnes of Better
year-on-year (YOY) basis, the Cotton lint enabling a record of
exports from the country surged by sustainable cotton produced in the
32.35 percent during the month of global supply chain. Despite fewer
May 2018 against the exports of licensed BCI farmers, the volume
May 2017. The exports during May of Better Cotton has increased
2018 were recorded at $2.144 globally because of high yielding,
billion compared to the exports of large farm producers.

April/May 2018