ISLAMABAD, Pakistan: The Economic Coordination Committee (ECC) of the Cabinet has withdrawn the customs duty on the import of cotton yarns to facilitate the Value-Added exporters, according to the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood.
In a statement on Wednesday, the adviser said that the ECC withdrew the customs duty on the import of cotton yarns on a summary moved by the Ministry of Commerce.
Abdul Razak Dawood said that this will be notified with the approval of the Federal Cabinet.
It is pertinent to mention that the regulatory duty was already withdrawn in December 2020 on the recommendation of the Ministry of Commerce. Now the Value-Added manufacturers and exporters can import cotton yarns at 0% customs duty.