Islamabad: The Pakistani government has announced the implementation of a track and trace system across the cotton and ginning industry to prevent tax evasion and bolster economic transparency.
According to Ministry of Information and Broadcasting, Minister for National Food Security Rana Tanveer Hussain disclosed this new initiative during a meeting with the Pakistan Cotton Ginners Association today. He emphasized the government’s commitment to fully enforce the Cotton Control Act with support from provincial authorities.
The minister acknowledged the cotton industry’s vital contribution to the rural economy and expressed openness to considering tax relief for ginners on cotton seed and cottonseed cake. Furthermore, the delegation highlighted the industry’s potential, noting that with improved policies, cotton production could significantly increase from the 8.4 million bales produced last season to twenty million bales.