R&D support incentive for textile units
The State Bank (SBP) has announced that the research and development (R&D) support would be provided to the home textile and dyed/printed fabrics manufacturing-cum-exporting units. The R&D support would be provided under chapter 52, 55, 63 & 94 of the Pakistan Customs Tariff at the specified rates of FOB value of exports as (a) dyed/printed fabrics (under chapters 52 & 55),3%; (b) home textiles (under chapters 63 & 94) white, 3%, while dyed/printed, 5%. However, all kinds of towels (un-stitched) are not admissible for the R&D support. In terms of the Textile Ministry SRO.No 803(1)/2006, the government decided to allow R&D support to home textiles & dyed/printed cloth manufacturing-cum-exporting units with effect from July 1, 2006.
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