KARACHI: The value-added textile exports associations in their budget proposals have demanded the federal government to restore zero-rating, continue duty drawback of taxes and Technology.
Textile sector seeks zero-rated facility
Asks govt to reduce withholding tax to 0.5% in federal budget for FY22
KARACHI:
Value-added textile exporters have urged the government to restore zero-rating (no payment, no refund), continue the Duty Drawback of Taxes (DDT) scheme and Technology Up-gradation Fund (TUF), and reduce withholding tax (WHT) to 0.5% in the upcoming federal budget for fiscal year 2021-22.
At a joint press conference, the heads of around a dozen textile associations including Council of All Pakistan Textile Mills Association Chairman Zubair Motiwala, Pakistan Apparel Forum Chairman Jawed Bilwani, Pakistan Hosiery Manufacturers and Exporters Association Chairman Tariq Munir and Pakistan Knitwear and Sweater Exporters Association Chairman Rafiq Godil demanded the suspension of Export Development Fund (EDF) surcharge.
Yarn shortage pushing industries towards closure
Textile exporters say exports have dropped drastically , warn of massive layoffs
KARACHI:
Textile exporters have lamented that the aggravating cotton yarn crisis due to its shortage has caused a drastic decline in exports, pushing industries on the verge of closure and sparking fears of layoffs of millions of workers.
At a joint press conference of various textile associations, Pakistan Apparel Forum Chairman Jawed Bilwani said, “The government has closed its eyes on the hoarding of cotton yarn and cartelisation, which can be dealt with as per law under the Price Control and Prevention of Profiteering and Hoarding Act 1977 and Competition Act of Pakistan 2010.”
Exporters fear losing orders due to cotton crisis
Textile body says unavailability of yarn, fluctuations in exchange rate affecting sector
Due to shortage of cotton and yarn, the users were compelled to import the commodities from the United States, Brazil and Uzbekistan. PHOTO: FILE
KARACHI:
The textile sector has voiced fear of losing export orders due to unavailability of cotton yarn and fluctuations in the rupee-dollar parity.
In a statement on Monday, Pakistan Apparel Forum Chairman Jawed Bilwani said that unavailability of cotton yarn and abrupt decrease in the value of rupee against the US dollar can collapse efforts made by the value-added garment and home textile segments.
Businessmen warn to move court against gas suspension
Business
January 24, 2021
KARACHI: Businessmen on Saturday warned the government of moving the court of law against the shutdown of gas supply to captive power plants, saying the decision is anti-business.
In a joint statement, Karachi Chamber of Commerce and Industry and Pakistan Apparel Forum said if the gas is discontinued the industrialists reserve legitimate rights to invoke Article 199 of the constitution and approach the court of law to safeguard their lawful rights and legitimate businesses.
KCCI President Shariq Vohra, Pakistan Apparel Forum Chairman Jawed Bilwani and Businessmen Group Chairman Zubair Motiwala also termed the decision of electricity tariff hike as âunwise and ill-timedâ, which will devastate export-oriented industries, disturb local production of general industries, sabotage all the efforts being made to enhance exports.