Pak cotton stakeholders demand 5% tax on textile industry

Pakistan’s cotton industry stakeholders recently demanded 5 per cent tax on cotton, textile and ginning industries as promised before the fiscal 2020-21 budget. Instead, the government proposed 17 per cent tax on the sector. The number of cargo trains should also be increased, former minister for textile in Punjab province Khawaja Jalaluddin Roomi said.

Roomi, who is also a former president of the Multan Chamber of Commerce and Industry, said the government should introduce soft loans for youth to reduce unemployment, according to Pakistani media reports.

Roomi urged the Punjab provincial government to allocate the maximum development funds for South Punjab to mitigate its problems.

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