Punjab slashes market fee, RDF on raw cotton

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Old 21-Sep-2010
Punjab slashes market fee, RDF on raw cotton

Chandigarh September 21:

Punjab Chief Minister Parkash Singh Badal announced to slash the market fee and the Rural Development Fee (RDF) on raw cotton from 2 per cent to 1 per cent during the cotton procurement season 2010-11.

A decision to this effect was taken by Mr Badal in a meeting with the deputation of Punjab Cotton Factories and Ginners Association led by its President Bhagwan Bansal here at Chief Minister's residence this evening. Stating this here today, an officials spokesman said this decision had been taken to safeguard the interests of both the cotton growers and cotton ginning industry.

Besides, the step would also provide a level playing field to the cotton ginners in the state who were facing unhealthy competition from the cotton industry in other states like Rajasthan, where the market fee on cotton was 0.80 per cent and 1 per cent each in Maharashtra and Gujarat. The state government had recently abolished the Punjab Infrastructure Development Cess of 2 per cent levied on the ginning and spinning (composite) units on raw cotton.

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