The Economic Coordination Committee has approved the withdrawal of customs duties on cotton yarn imports until June 30, 2021, to ensure uninterrupted supplies of cotton and cotton threads for the value-added industry.
The Ministry of Commerce presented at the meeting of the Economic Coordination Committee, chaired by the Minister of Finance and Revenue, Hammad Azhar, a summary of the abolition of customs duties on cotton yarn imports under PCT 5205, 5206 and 5207 until June 30, 2021.
The committee agreed to abolish customs duties to ensure an uninterrupted supply of value-added cotton and cotton yarn while reducing the gap between domestic production and overall demand for resources.
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