LAHORE: Pakistan has imported 0.5 million bales of Indian cotton through Wagah border in first ten months of the fiscal year 2015-16, a limit set by Pakistan.
Sources told Customs Today that from July 2015 to 30th April 2016, Pakistan imported 500,000 bales of Indian raw cotton that valued Rs 14 billion. By import of this huge quantity of raw cotton, the Pakistan Customs Land Freight Unit (LFU) Wagah has collected a huge revenue in the wake of duties and taxes on import.
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Sources said that suspension of cotton import will halt the revenue of the Pakistan Customs as during the last two years cotton is the largest source of revenue generation for Pakistan Customs Land Freight Unit Wagah.
While on the other hand Indian side confirmed that thousands of cotton bales are loaded on trucks or in warehouses in waiting to cross the border. Meanwhile standing committee of senate has showed concern on huge import of Indian raw cotton and Customs Today has reported last week that Pakistan will suspend the import.
