Textile Briefs National


1. The government has announced the country's biggest export package worth Rs 180 billion to enhance foreign trade. The package envisages abolition of customs duty and sales tax on import of cotton. Similarly, customs duty on man-made fibre rather than polyester and sales tax on import of textile machinery has also been abolished.

2. The Federal Board of Revenue (FBR) has exempted sales tax on the import of machinery (not manufactured locally) by textile units registered with the Ministry of Textile Industry from January 16, 2017 till June 30, 2018.

3.  According to Chairman APTMA, Aamir Fayyaz, the textile industry has not sufficiently invested in balancing and modernisation and the situation in 2016 has further deteriorated. The eroding competitiveness of the sector was not only because of high cost of doing business in Pakistan but also due to 10 years old machinery. He said the older machines consume 40% more power than the latest basic textile machines.

4.  State Bank of Pakistan (SBP) Governor Arshad Wathra reiterated the government’s resolve to revive the textile industry and pledged unequivocal support for all the stakeholders. He has asked the representatives of the banking sector to play their due role in rehabilitating the textile industry by extending loans to the exporters.

5.  The TDAP Chairman has said that the decline in exports from Pakistan is due to global recession. He said last year Pakistan's exports declined by 14% while there was a dip of 18% in Indian and 12% in Chinese exports.

6.  Towel Manufacturers Association of Pakistan delegation presented a working paper to the governor based on points for revival of the textile industry and assured the Governor that if their proposals are given due weight age, they can assure that the country's exports will increase manifold which will ultimately help the exporters to come out from the crises which they are facing since long as well as it will help the government in increasing foreign reserves which is badly needed for the country.

7.  Pakistan has missed the cotton production target by around 25 per cent as the production has been recorded at 10.5 million bales against the set target of 14.1 million bales for 2016-17. So far 10.5 million bales of cotton have been recorded.

8.  Muhammad Jawed Bilwani, chairman of Pakistan Apparel Forum demanded release of long pending refunds of exporters from the government. According to Bilwani, exports of knitwear dropped 3.44 per cent, garments fell 3.60 per cent and of all other textile products decreased 1.30 per cent in January 2017, as against January 2016.

 

 
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