18% Sales Tax Applicable On Local Cotton And Thread And Imported Cotton And Thread Are Exempted From It, Member IR Policy FBR Dr. Najeeb Ahmed Issued A Special Meeting

18% sales tax applicable on local cotton and thread and imported cotton and thread are exempted from it, Member IR Policy FBR Dr. Najeeb Ahmed issued a special meeting

Multan (UrduPoint / Pakistan Point News - 14th Jan, 2025) 18% sales tax applicable on local cotton and thread and imported cotton and thread are exempted from it, Member IR Policy FBR Dr. Najeeb Ahmed issued a special meeting.

FBR meeting of Prime Minister. On the directive, the Ministry of National food Security was convened in continuation of the Cotton Committee. In the meeting of the National Food Security, the removal of 18% sales tax on local cotton was made part of the minutes of action.

Chairman Cotton Committee Malik Sohail Talat represented FPCCI and participated in the meeting.

All the stakeholders present in the meeting agreed with this position and demanded its immediate end.

In the press briefing, Pidan Chief SM Tanveer and Malik Sohail said that FPCCI is playing its responsible role for the improvement of industry and trade including IPP, bank policy rate to take the economy in the right direction.

Cotton revival is essential for the revival of the economy. The FPCCI leadership is active at all levels to ensure an increase in its production by eliminating the existing constraints.