Textile sector plans protest against cabinet decision
Presses govt to allow cotton yarn import from India
PHOTO: AFP
LAHORE:
The value-added textile sector of Pakistan has expressed its reservations about cabinet’s refusal to allow import of cotton yarn from India, saying that they are planning a protest in the coming days.
“According to the World Trade Organisation (WTO) laws, no one can object to trade with another country, the restrictions imposed by Pakistan on trade with India are based on political grounds, but if we allow imports of medicines from India, then why not cotton yarn,” questioned Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Patron-in-Chief Ijaz Khokhar.
LAHORE: Pakistan Readymade Garments Manufacturers and Exporters Association Sunday demanded the government to allow duty and taxes free cotton yarn import from India through Wagah border.Currently.
The newly upgraded Fully Automated Sales Tax e-Refund (FASTER) Plus system is quick and transparent and now there is no need for zero-rating regime on sales tax for exporters, said Federal Board of Revenue (FBR) Inland Revenue (Operations) Member Dr Muhammad Ashfaq.
PDMEA demands zero rating for textile chain in textile policy
National
January 11, 2021
KARACHI: Chairman, Pakistan Denim Manufacturers and Exporters Association, (PDEMA), Shoaib Majeed, has supported the demand of the Advisor to the PM on Commerce, Abdul Razzak Dawood, for zero rating regime of the textile chain in National Textile Policy 2020-25, which would give quantum jump in country’s exports.
The Chairman, PDMEA, has also endorsed the statements of Pakistan Readymade Garments Manufacturers & Exporters Association, (PRGMEA), for restoration of zero rating for textile sector, which would act as catalyst to enhance the exports. Majeed said we should in cash the opportunities of new export orders diverted towards Pakistan from India and Bangladesh. He requested to the prime minister & advisor on commerce to accept the long awaited demand of the exporters, which would ease their cash flow to get new orders.
Despite pandemic, textile sector bounces back
Stakeholders still worried about country’s thin share in global textile exports
LAHORE:
Pakistan’s textile sector has helped the country pass through a difficult phase, especially during 2020, which is still a threat to the entire world.
Covid-19 was the biggest challenge for the outgoing 2020, which disrupted global economies and their supply chains. Pakistan too felt the heat of the deadly virus, starting late February, but surprisingly within a couple of months, the country’s textile industry was back on track.
Textile sector is called the backbone of Pakistan’s economy as it enjoys around 60% share in total exports. Its contribution to the national gross domestic product (GDP) is 8.5% and it employs around 15 million people, directly and indirectly.