Textile Briefs National


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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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 Asia.

9. 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.

10. 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 available opportunities.

 

 
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