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Dull trading on cotton market
KARACHI: Trading on the cotton market on Monday slowed down owing to ongoing traders protests over tax related issues.
There is an air of uncertainty with buyers remaining cautious particularly.
A leading broker said that there are growing concerns in general and textile industry in particular that payment of sales tax at multiple stages would squeeze working capital of industry.
The ginners on their part are also worried about 5 per cent sales tax on filers and 8pc on non-filers on oilcake dealers, he added.