1. The government
has dispersed Rs 11.44 billion among the textile sector against
claims for Rs 20 billion through the State Bank of Pakistan
under the Prime Minister’s Trade Enhancement Package till
November 22, 2017.
The Punjab University in Pakistan has signed an agreement to
provide through seven seed-marketing companies the new
disease-resistant genetically-modified BT cotton seed varieties
developed by its researchers to farmers across the country.
According to Pakistan Cotton Ginners Association (PCGA), Cotton
production has so far reached 1.186 million more cotton bales
than the production recorded up to November 2017, thereby, makes
the target of 12.6 million bales achievable for 2017-18.
Pakistan Cotton Ginners Association (PCGA) strongly opposed the
duty-free import of cotton from India and other countries. PCGA
Chairman Haji Muhammad Akram said that 1.857 million bales of
cotton are lying at ginneries as unsold stock with textile
millers reluctant to purchase it and there is no justification
for lifting an ‘undeclared’ ban on imports of ginned cotton at
the cost of local growers.
Pakistan textile exports have been going up steadily, in the
first seven (July to January) of the current fiscal year textile
shipment jumped 7.18% year-on-year to $7.7 billion driven
primarily by a surge in value-added textile exports.
The Federal Board of Revenue (FBR) has slashed sales tax rate on
the import of finished items of textile and leather sectors
reducing sales tax rate to 6% from 17% on import of these
finished products for consumption in the domestic market.
The Senate Standing Committee on Commerce and Textile termed the
proposed Free Trade Agreement (FTA) with Turkey is disastrous
for Pakistan, observing that national interests are not
protected under the pact.
The International Apparel Federation (IAF) is going to open its
first regional office at the Pakistan Readymade Garments
Manufacturers and Exporters Association House in Sialkot where
PRGMEA will also ink a MoU with the Dutch National Fashion &
Textile Association Netherlands (MODINT) for the first time in
The National Tariff Commission (NTC) has been criticised by the
Pakistan Yarn Merchants Association (PYMA) for imposing
anti-dumping duties between 3.25% and 11.35% on import of
polyester filament yarn (PFY) from China and 6.35%on such
imports from Malaysia.
The UK Prime Minister’s Trade Envoy Rehman Chishti said that
considering the fact that Pakistan as an important emerging
market, British businessmen are ready to further trade and
economic ties with their Pakistani counterparts to avail the