1. The Pakistan
Hosiery Manufacturers Association (PHMA) has urged the
government to continue the sales tax zero-rating facility to
five export-oriented sectors in the upcoming federal budget
2017-18, besides speeding up the disbursement of drawbacks under
Prime Minister Rs.180 billion export package.
2. The textile and
clothing exports recorded a nominal decline in exports mainly
due to lower proceeds from raw material and low value-added
products, such as cotton yarn and fabrics. While overall textile
exports decreased, the exports of value-added products grew
during the 10 months in terms of both value and quantity such as
readymade garments exports that rose 5.34% in July-April.
3. The arrangements
have been made to make available about 38,000 tonnes of 100
percent certified and approved cotton seeds aimed at increasing
per acre crop output in the country. Cotton crop production
targets for the current season have been fixed at 14.40 million
bales against 14.1 million bales last year.
4. The Board of
Investment (BoI) will hold road shows in China, Singapore and
Gulf countries in the coming months with the aim to increase
Pakistan’s foreign direct investment (FDI). These shows will be
held in collaboration with chambers of industries and All
Pakistan Textile Mills Association (Aptma) to focus on textile
and steel industries focusing mainly on achieving the FDI target
of $15 billion by 2025.
5. The figures show
that the volume of investment in the industry has surged
significantly in recent months, but exports of the sector are
showing an opposite trend.The State Bank of Pakistan (SBP)
Governor, has suggested that the money borrowed by the textile
industry might be going to other profitable sectors like real
estate or the stock market.
6. Mr. Toshikazu
Isomura, Consul General of Japan in Karachi has said Japan is
Pakistan’s long term partner and 82 Japanese companies were
already operating in Pakistan and have invested over $500
million in the country in last three years. According to him,
participation in the CPEC projects should be offered to Japanese
Zahid Mazhar, Senior Vice Chairman Aptma has demanded ready
availability of raw materials to the industry by allowing duty /
tax-free imports of cotton and polyester staple fibres well as
the proper allocation of funds against the Prime Minister’s
export-led growth package announced in January this year.