18pc sales tax cripples cotton ginning

LAHORE: In an unprecedented crisis for Pakistan’s textile backbone, several cotton ginning factories in Tando Adam and other key towns have begun shutting down just one month after becoming operational, marking a devastating first in the country’s history. The sudden shutdowns result directly from the federal government’s failure to reduce the crushing 18 per cent sales tax on the cotton ginning sector in the recent federal budget. This legislative oversight has triggered a historic crash in ...

By none@none.com (Amjad Mahmood)