Stay updated with breaking news from Novatex ltd. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
In this file photo, workers operate a machine at a textile factory in Faisalabad. AFP/File LAHORE: The top 25 textile companies have alone contributed over $5.361 billion, or 21 per cent, to the country’s overall exports of $25bn in 2020-21. “It is a matter of great pleasure that the exports of the textile sector alone soared by 19.23pc to $15.5bn in 2020-21 compared to $13bn the preceding year,” Aptma (North Zone) Chairman Abdul Rahim Nasir told Dawn on Friday. “It is really unprecedented,” he added. According to a list shared by trade bodies, Style Textile (Pvt) Ltd exports remained $428.76 million in 2020-21, followed by Interloop Ltd with $331.54m, Artistic Milliners (Pvt) Ltd $329.63m, Yunus Textile Mills Ltd $311.92m, Nishat Mills Ltd $307.32m, Gul Ahmad Textile Mills Ltd $284.25m, Feroze 1888 Mills Ltd $273.04m, Soorty Enterprises Ltd $268.14m, Artistic Fabric & Garment Industries (Pvt) Ltd-$226.42m, Liberty Mills $216.33m, Masood Textile Mill ....
The Federal Board of Revenue (FBR) has submitted a bill to the National Assembly secretariat proposing a string of amendments to withdraw around 36 tax exemptions. Dawn/File ISLAMABAD: The Federal Board of Revenue (FBR) has submitted a bill to the National Assembly secretariat proposing a string of amendments to withdraw around 36 tax exemptions and streamline other corporate tax exemptions, which will come into effect from July 1, 2021. The corporate income tax reforms are in line with recommendations of the International Monetary Fund (IMF). The Fund estimates it will generate revenue of Rs140 billion. The bill, which will be called the income tax (second amendment) bill 2021, will be introduced in the next session of the lower house, whenever convened. ....