Source: Business Recorder

APP | Sep 27, 2022

MULTAN: Chairman of Pakistan Cotton Ginners Association (PCGA) Suhail Haral demanded of the government to review the fixed tax policy on factories. While speaking at a press conference, Suhail Haral observed that cotton factories operate during the winter season only. He wondered how is it possible for them to pay fixed tax for the whole year. If the government wants to get fixed tax throughout the year then it should provide raw material to ginning factories for 12 months, he added.

He demanded of the government to manage audits of Independent Power Plants (IPPs) from international firms to assess their capacity building as capacity charges were being paid regularly. IPPs produce nearly one third of total electricity in the country, however fuel price adjustment was being taken for overall electricity production whether it was prepared from hydro, coal, wind or solar systems, he stated.

Responding to a question about production of cotton, he stated that PCGA was expecting production of 12 million bales. However, the rains and floods caused havoc with the crop. There could be a loss of four to five million cotton bales.

About the present condition of cotton, Suhail Haral maintained that ongoing weather conditions were favourable for the cotton crop. The temperature drops especially during night time and it is good for the crop, he hinted. (Source: Business Recorder)