1. China has agreed
to increase its imports from Pakistan to US$ 2.2 billion by end
of 2018-19 from the existing level of US$ 1.2 billion and to
US$3.2 billion by end of next fiscal year, said Adviser to Prime
Minister on Commerce, Industry and Investment Abdul Razak Dawood.
China has agreed to increase its imports from Pakistan to US$
2.2 billion by end of 2018-19 from the existing level of US$ 1.2
billion and to US$3.2 billion by end of next fiscal year, said
Adviser to Prime Minister on Commerce, Industry and Investment
Abdul Razak Dawood.
Federal Board of Revenue (FBR) has started receiving live
transactions of sales of finished articles of textile and
leather. The eligible persons integrating or having already
integrated their systems with the FBR can now avail reduced rate
of 6% on their sales as announced by the Federal Government,
according to FBR statement.
The Pakistan Hosiery Manufacturers Association (PHMA) recently
urged the government to direct its embassies and missions abroad
to counter the ‘propaganda’ against the country’s textile
industry, which constitutes more than 60% of total exports.
Pakistan’s exports to China amounted to US$ 1.75 billion in the
fiscal year of 2017-18, while imports from China were recorded
at US$ 11.5 billion, resulting in trade deficit of US$ 9.75
In a recent paper by (Aptma) to the textile ministry, China’s
domestic textiles and clothing market is estimated to be US$ 500
billion. Pakistani textile exports only 3% of their textile and
clothing, showed a huge potential.
During the last six months of the present fiscal year,
Pakistan’s knitwear garments exports have shown growth of 10.5%
and stand on top in the textile group and other sectors, said
Muhammad Jawed Bilwani, Central Chairman of Pakistan Hosiery
Manufacturers and Exporters Association (PHMA).
Pakistan has invited enterprises of the Nigerian textile
industry to participate in the second edition of its
international textile exhibition in Lahore in April,2019
according to Tahir Abbas, Commercial Secretary at the Pakistan
Mission in Nigeria.
The textile industry wants Prime Minister Imran Khan to convince
China’s leadership in his upcoming tour to set up a special
credit line of US$ 5 billion for fresh investments and joint
ventures between the manufacturers of the two countries.