Pakistan Cotton Ginners Forum Chairman Ehsanul Haq on Tuesday voiced serious concerns over the delay in issuing a Statutory Regulatory Order (SRO), following a nationwide decline of Rs500 per maund in cotton prices.
In a statement, he criticized the authorities for failing to issue the SRO despite the sales tax exemption granted on cotton imports.
He warned that a delay in the issuance of SRO causes loss and the price gradually decreases.
The Pakistan Cotton Ginners Forum Chairman stated that heavy rains are also damaging the cotton supply chain.
Ehsanul Haq mentioned that the low supply of cotton is impacting ginning factories, causing them to become non-functional day by day.