20000307

'Growers be involved in formulation of cotton policy'

KARACHI: The Tajir Action Committee (TAC) has recommended inclusion of cotton growers, spinners, weavers, ginners, textile manufacturers as well as exporters of the value-added cotton in the formulation of forthcoming national cotton policy.

TAC convenor Imran Saeed Baghpati in a statement here also suggested radical measures to encourage local business community to help improve exports and said to make exportable items and goods more competitive all imported inputs used by the export-oriented industries should be exempted from all local levies and taxes.

Baghpati maintained that the export refinance scheme must also be streamlined and simplified. He also strongly favoured establishment of an export development bank to deal with cash requirement of exporters and importers.

According to him initiating export insurance guarantee scheme would not only encourage new exporters but also help boost overall exports in the coming fiscal year. APP