Textile Briefs National


1. The Chairman of the Federal Board of Revenue, Dr Muhammad Irshad has instructed regional tax officers to stop the issuance of notices to ginners and freezing of their bank accounts. He gave the assurance of some concessions and facilities to the ginning industry in the coming budget.

2. According to KCA Senior Member Ghulam Rabbani, the government need to allow cotton hedge trading through Karachi Cotton Association (KCA) as it will help the economy by providing a cover against the risk of fluctuations in price, thereby facilitating smooth flow of national and international trading in cotton.

3. Pakistan Apparel Forum Chairman Muhammad Jawed Bilwani has expressed deep concern over decline in textile exports in general and of garments in particular and demanded the government to immediately release all pending Sales Tax Refunds, Custom Rebate Claims, DLTL Claims and WHT Claims to provide relief to the textile exporters so that they could focus on increasing their exports.

4. The Pakistan Senate Standing Committee on Textile Industry stressed on the need to protect the domestic textile industry, by expanding exports from the sector. The committee also gave its recommendations on properly implementing the Rs.180 billion Trade Enhancement Package. The package announced by PM Nawaz Sharif will run for eighteen months.

5. Pakistan Hosiery Manufacturers Association (PHMA) Chairman Adil Butt said that textile exporters are being exposed to heavy financial losses as they passed on the benefit of cut in cost to international buyers immediately after the announcement of the government’s incentive package. He expressed concern over the undue delay in refund payment to the exporters, stating that not even a single penny has been released to the export-oriented industry.

6. Chairman of Pakistan Cotton Ginners Association (PCGA), Dr. Jeso Mal has  demanded a bailout cum incentive oriented package for the ginners since cotton is an important cash crop and lifeline of textile industry millions of farmers are directly associated with cultivation and harvesting of cotton crop and sale of lint.

7. All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz has proposed a multi-year tariff, determined by Nepra for the industry, without including the surcharge, which would make available electricity at the regionally competitive price of Rs7 per kilowatt-hour. Fayyaz pointed out that exports of all sectors have declined because of the high cost of doing business. The trade deficit reached $28 billion in the previous fiscal year as exports dropped to $19.5 billion from $24.5 billion in 2013.

 

 
Copyright 2017 Ptj.com.pk   Design: PTJ Graphics