Textile Briefs National


1.  The government has abolished sales tax zero-rating regime in the federal budget 2019-20 for five export-oriented sectors i.e. textile, leather, carpets, sports goods and surgical goods and imposed 17% sales tax on items covered under SRO 1125(I)/2011.

2.  Prime Minister Imran Khan in a meeting with the leaders of the textile industry told them the government has withdrawn the zero-rated regime for five sectors and imposed a standard sales tax rate of 17% on all items.

3.  The PHMA has rejected 17% sales tax on the export industry in the federal budget 2019-20, expressing serious concern over the withdrawal of zero-rated facility for the five key exports sectors.

4.  Due to ongoing trade tensions between the US and China, Pakistan’s textile industry is getting a huge amount of import queries from the US.

5.  Chinese textile organization will visit Pakistan to provide technical expertise in the textile sector, Abdul Razak Dawood says a free trade agreement has been signed with China in this regards.

6.  APTMA Chairman Syed Ali Ahsan has apprehended that the proposal of withdrawal of zero-rating regimes would have an adverse impact on the country’s exports production and investments.

7.  The textiles exports of Pakistan during July-April (2018-19) were recorded at $11.419 billion against the export of $11.176 billion during July-April (2017-18), showing an increase of 2.17 percent.

8.  The five-year textile policy has failed to achieve its targets including doubling value addition from $ 1 billion per million cotton bales to $ 2 billion per million cotton bales as well as creating the jobs in the sector and increasing the textile exports.

 

 
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