Islamabad: Jun 15, 2022 (TNS): Coordinator Federation of Pakistan Chambers of Commerce and Industry Talat Sohail termed the budget as balanced in difficult economic conditions and expressed his concerns over cotton. Finance Minister mentioned crops like sunflower, canola etc.
But unfortunately did not mention cotton. However, cotton contains 60% cotton seed which produces edible oil. The increase in cotton production is due not only to cotton lint but also to edible oil.
In the budget proposals, we had demanded abolition of taxes on Cotton seed oil, cotton seed and oil cake. This can lead to difficulties and obstacles in increasing cotton production.
Several ministers, including the finance minister, supported our demand but did not even mention it in the budget.
Only increase in cotton production can lead to appreciation of rupee, reduction of unemployment and stabilization of economy.
