Pakistan, Dec. 31 -- The Economic Coordination Committee (ECC) of the cabinet on Monday waived all duties and taxes on import of cotton and allowed its import via the Torkham border land route from Afghanistan and Central Asian States to meet the growing demand of the textile value-added sector.

The decision taken at a meeting of the ECC, headed by Adviser to the Prime Minister on Finance Dr Hafeez Shaikh, will be effective from Jan 15, 2020.

The government had in 2014-15 imposed one per cent customs duty along with 5pc sales tax on cotton import. Over the next few years, its import was subject to 3pc regulatory duty, 2pc additional customs duty and 5pc sales tax. The duties were withdrawn in January/February 2017 and re-imposed in July...