December 19, 2002	Thursday	Shawwal 14, 1423

KARACHI, Dec 18: Pakistan Cotton Ginners Association (PCGA) has threatened to stop compiling fortnightly arrival figures of phutti into the ginneries as All Pakistan Textile Mills Association (Aptma) has refused to help in collection of these figures.

Despite repeated reminders, telephonic message, the PCGA chairman claims, the Aptma bosses are not inclined to pay the agreed amount of Rs0.1 million per annum, although four months have passed since the new cotton season began.

“If PCGA stops issuing fortnightly data purchase and sale of phutti and cotton by the ginneries the national exchequer may be deprived of huge amounts of sales tax in the absence of official arrival figures and the mill offtake,” PCGA claimed.

Spinners and mills have to pay sales tax at the rate of 15 per cent, which according to rules has to be deposited by the ginners in the banks on which the former claims sales tax refund.

PCGA has reminded Aptma about the agreement reached between the ginners (PCGA), spinners (Aptma) and Karachi Cotton Association (KCA) about four year back that each trade body would contribute Rs0.1m towards data collection of purchase and sale of phutti and cotton.

It further said that KCA had paid its shares on this account but Aptma despite several reminders was not responding and a situation has reached that PCGA could not move alone without getting funds for the compilation of data.