Textile Briefs National


1.  APTPMA has demanded that textile exporters that fall under final tax regime u/s 143(b) and should be exempted from payment of WHT and be given exemption certificates. The exemption would yield benefit for export boosting and also lower workload on FBR.

2.  KCA Chairman has said that the export-oriented textile industry was facing a worst-ever liquidity crisis due to the drastic slowdown of domestic as well as international markets and delay in payments.

3.  Abdul Razak Dawood has said that the country‚Äôs export target of US $ 25 billion could not be achieved due to the ongoing situation of lockdown in the country and it could decline to more or less to the US $ 22 billion.

4.  Cotton Growers and industrialists have appealed to the Economic Coordination Committee (ECC) of the cabinet to revisit the decision of turning the down support price of cotton.

5.  The Economic Coordination Committee (ECC) recently approved a multi-billion agriculture package to provide the farmers with subsidy on fertilizers, cottonseed, and whitefly pesticides; reduce bank markup on agricultural loans, besides giving sales tax subsidy on locally manufactured tractors.

6.  In April 2020, textile exports declined 65% to $404 million against exports of $1,138.35 million in the same month of the previous year. The Textile Association also urged the government to take serious measures to overcome the liquidity issues of the textile industry.

7.  The government has asked the textile exporters to take full advantage of the new business opportunities as the west is slowly opening up in terms of economic activities. There are trickles of orders coming in different segments and would likely take the industry where it was before the coronavirus.

8.  Chief Coordinator PRGMEA has said that the garment industry is receiving international inquires about the production of masks and personal protective equipment (PPE). He said it is high time that we switch over the production to PPE to capture the demanding market share.

9.  According to the industry officials, apparel sector faces a cash crisis and is on the verge of disaster due to the imposition of 17 percent sales tax in the last budget, whereby liquidity worth billions of rupees has been stuck with the government.

10.  Readymade Garments exports during the first ten months of the current financial year grew by 2.06% as compared to the exports of the corresponding period of last year. During the period from July-April 2019, Readymade Garments worth $2,231,915 thousand exported as compared to the exports of $2,186,902 thousand of the same period of last year.

 

 
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