'Revolutionary step': PCGA lauds 17pc GST waiver over cotton seeds.

MULTAN -- Pakistan Cotton Ginners Association (PCGA) has lauded the abolition of 17 percent General Sales Tax (GST) on cotton cake and cotton seed and calling it a revolutionary step, saying the decision would have a positive and far-reaching impact on the national economy.

PCGA Chairman Sohail Mahmood Harral, while addressing a press conference here on Friday said, that the decision of the government would be helpful for improvement of economy, welfare of farmers and revival of ginning sector.

On this occasion, Haji Muhammad Akram, Malik Talat Sohail, Chaudhry Waheed Arshad, Asim Saeed Sheikh, Mian Rashid Mahmood, Chaudhry Khalid Bashir, Rao Sadruddin and Mazhar Shoaib Khan were present.

He said that cotton was the backbone of the country's economy. Prime Minister Shahbaz Sharif, Finance Minister Muftah Ismail, Water Resources Minister Khursheed Ahmed Shah, Food Security Minister Tariq Bashir Cheema, Advisor to the Government of Pakistan Sheikh Fayyaz-ud-Din and MNA Kheal Das had played a significant role in eliminating GST on cotton cake and cotton seed on which association was deeply grateful.

The country's economy depends on cotton and government's decision will lead to a dramatic increase in GDP (growth rate) and foreign...