Pakistan may waive import tariffs on textile machinery

Nawab Shahzad, deputy chairman of the newly elected Pakistani Cotton Association Punjab Chapter, called on the country to import cotton ginning machinery duty-free. He strongly opposes the levy of VAT to avoid further deterioration of the ginning industry.

Shahzad said he hopes to get enough support from relevant authorities that Pakistan’s products will have enough room in the international market to attract buyers because they can provide better inspections. However, it takes time for the government to adopt a business-friendly policy, especially for small investors to distribute their nationwide ginning production network.

Different stages of tax cuts, including imports of machinery from textile production, can make Pakistan more prosperous in the international market. Shahzad emphasized the need to cut electricity and gas costs and import modern machinery.