According to a report by Pakistan’s “Daily Times” on October 29, the Pakistani government decided to impose a 10% regulatory tax on cotton yarn and fabrics imported from India starting from November 1. The Pakistani spinning industry has previously submitted an application for anti-dumping investigation into Indian cotton and cotton yarn to the National Revenue Commission of Pakistan, but no conclusion has been reached. The government did not consult the National Tax Commission in its decision to impose the adjustment tax.
However, the Pakistan Garment Forum, which represents the interests of Pakistan’s high value-added textile industry, expressed dissatisfaction with the government’s practice of imposing adjustment taxes without the approval of the National Tax Commission, believing that even in 2010, when the textile industry’s profit margin was the highest, it was still Some textile companies have lost money and are still losing money today. The Pakistan Garment Forum also stated that the backwardness of Pakistan’s textile industry is mainly due to the government’s domestic policies. For example, 90% of high value-added textile companies cannot obtain long-term financing, most small and medium-sized enterprises cannot obtain export loans, and the government prefers the practices of large textile companies. , which is not conducive to the development of small and medium-sized enterprises and will affect employment. Pakistan imposes regulatory tax on cotton yarn and fabrics imported from India
