Textile sector likely to get Rs15 bn under PM’s package by August 14

Related Keywords: enhance value addition capacity, facilitate garment exports, Members of National Assembly Standing committee, offer incentives to garments industry, overall exports have gone down, promote, resolve issues of electricity tariffs, Rs fifteen billion for textile sector, Sales tax, small units, Textile Industry, under prime minister trade package

Islamabad
Textile sector likely to get Rs15 bn under PM’s package by August 14
Summary: 
Members of the National Assembly Standing committee on Textile Industry has come up with recommendations in an attempt to offer incentives to the garments industry and its small units, which would help them enhance their value-addition capacity, promote and facilitate garment exports.

Members of the National Assembly Standing committee on Textile Industry has come up with recommendations in an attempt to offer incentives to the garments industry and its small units, which would help them enhance their value-addition capacity, promote and facilitate garment exports.

The move comes at a time when Pakistan’s overall exports have gone down from around $24 billion to around $20 billion per annum over the past few years of which textile exports constituted more than half of the total shipments.

https://tribune.com.pk/story/1467365/textile-sector-get-rs15-billion-pms-package-august-14/
0

Pakistan Apparel Forum urges for amendments in export package

Related Keywords: biggest group of value added textile, extending rebate, indirect exports, local sales of yarn, Pakistan Apparel Forum, regulatory duty on import of cotton yarn, Sales tax, up to thirty two single coarse counts, urge to amend the export package, withdrawal of customs duty

Islamabad
Pakistan Apparel Forum urges for amendments in export package
Summary: 
Pakistan Apparel Forum, the biggest group of value added textile urge to amend the export package by extending rebate to indirect exports (local sales) of yarn and withdrawal of customs duty and sales tax, besides regulatory duty on import of cotton yarn up to 32 single coarse counts.

Pakistan Apparel Forum, the biggest group of value added textile urge to amend the export package by extending rebate to indirect exports (local sales) of yarn and withdrawal of customs duty and sales tax, besides regulatory duty on import of cotton yarn up to 32 single coarse counts.

http://www.brecorder.com/cotton-a-textiles/185/132659/
0

Pakistan offers $1.7 bln in incentives to revive its textile industry

Related Keywords: aimed at reviving struggling textile industry, announced package of incentives, cushion the declining exports, customs duty, import of cotton abolished, Prime Minister Nawaz Sharif, Sales tax, sales tax on imports of textile machinery scrapped, take some time favourable impact started reflecting

Karachi
Pakistan offers $1.7 bn in incentives to revive its textile industry
Summary: 
Prime Minister Nawaz Sharif announced a package of incentives worth 180 billion rupees ($1.72 billion) after a meeting with top exporters on Tuesday aimed at reviving the struggling textile industry. However, it would take some time like four to six months before the favourable impact started reflecting in the country’s exports.

Prime Minister Nawaz Sharif announced a package of incentives worth 180 billion rupees ($1.72 billion) after a meeting with top exporters on Tuesday aimed at reviving the struggling textile industry. However, it would take some time like four to six months before the favourable impact started reflecting in the country’s exports.

Textiles make up more than half of Pakistan's exports, but it has lost ground to South Asian neighbours in recent years, hurt by chronic energy shortages and underinvestment in machinery.

http://in.reuters.com/article/pakistan-textiles-idINL5N1F02Q1
0

Textile industry look for issuance of SRO on zero-rated regime

Related Keywords: boost exports, budget announcement, export oriented industries, issuance of Statutory Regulatory Order, Pakistan Finance Ministry, retail sales, Sales tax, value added textile industry, zero rate regime

Karachi
Pak textile industry look for issuance of SRO on zero-rated regime
Summary: 
The Finance Minister Ishaq Dar after announcing zero rate regime in the budget on 3rd of June for export oriented industries to boost exports, a long standing demand of the value added textile industry. Textile industry is now waiting for the issuance of Statutory Regulatory Order (SRO) on zero-rate regime for export-oriented industries.

The Finance Minister Ishaq Dar after announcing zero rate regime in the budget on 3rd of June for export oriented industries to boost exports, a long standing demand of the value added textile industry. Textile industry is now waiting for the issuance of Statutory Regulatory Order (SRO) on zero-rate regime for export-oriented industries.

http://www.brecorder.com/cotton-a-textiles/185/54287/
0

Pakistan Customs proposes imposing regulatory duty on importable goods

Related Keywords: as various statutory rates of import duty, budget proposal, Commercial importers, FBR, import of woven cotton fabric, importers to get items cleared under miniumum duty slab, industrial consumers, Pakistan Customs Appraisement South, proposed regulatory duty on importable goods, rationalize duty structure, Sales tax, under FTA

Karachi
Pakistan Customs proposes imposing regulatory duty on importable goods
Summary: 
The Pakistan Customs Appraisement South, in its budget proposals for 2016/17 proposed that regulatory duty be enhanced on a number of importable goods as various statutory rates of import duty, under the FTA (free trade agreement) regime provide opportunity to the importers to get items cleared under the minimum duty slab.

The Pakistan Customs Appraisement South, in its budget proposals for 2016/17 proposed that regulatory duty be enhanced on a number of importable goods as various statutory rates of import duty, under the FTA (free trade agreement) regime provide opportunity to the importers to get items cleared under the minimum duty slab.

http://www.thenews.com.pk/latest/112860-Pakistan-Customs-proposes-5-to-20-percent-duties-on-imported-goods
0

PCGA opposes waiving off RD, tax on cotton import from India

Related Keywords: agricultural sector, cotton bales, custom duty, Ginners, hit domestic industry, import of cotton from India, local farmers, must continue for survival, opposes waiving off regulatory duty, Pakistan Cotton Ginners Association, Sales tax

Karachi
PCGA opposes waiving off RD, tax on cotton import from India
Summary: 
Pakistan Cotton Ginners Association (PCGA) has strongly demanded that regulatory duty, sales tax and customs duty on the import of cotton from India should not be waived off and it must continue for the survival of local farmers as well as ginners.

Pakistan Cotton Ginners Association (PCGA) has strongly demanded that regulatory duty, sales tax and customs duty on the import of cotton from India should not be waived off and it must continue for the survival of local farmers as well as ginners.

The PCGA Chairman Nawab Shehzad Ali Khan said that Cotton economy was passing through the worst crisis of the history and they should avoid to benefit any stake holder at the cost of national economy and Prime Minister Nawaz Sharif should take notice of such proposals personally.

http://www.brecorder.com/cotton-a-textiles/185/11175/
0

Sales tax to be levied on entire supply chain, manufacturing

Related Keywords: charged three percent, double taxation, dyeing and stitching, five zero-rated sectors, garment can be manufactured, KCCI, levy sales tax on supply, manufacturing of goods, Pakistani Federal Board of Revenue, processing charges, Sales tax, sizing, spinning, supply chain of textile industry, weaving, without ancillary industries

Karachi
Sales tax to be levied on entire supply chain, manufacturing
Summary: 
The Pakistani Federal Board of Revenue (FBR) has issued a detailed clarification in response to contentions expressed over double taxation by a Karachi Chamber of Commerce and Industry (KCCI) delegation during its recent meeting with the FBR chairman. It defines that the federal government is authorized to levy sales tax on supply and manufacturing of goods, whereas the power to levy sales tax on services have been vested with provinces.

The Pakistani Federal Board of Revenue (FBR) has issued a detailed clarification in response to contentions expressed over double taxation by a Karachi Chamber of Commerce and Industry (KCCI) delegation during its recent meeting with the FBR chairman. It defines that the federal government is authorized to levy sales tax on supply and manufacturing of goods, whereas the power to levy sales tax on services have been vested with provinces.

http://www.dailytimes.com.pk/business/22-Jan-2016/federal-govt-authorised-to-levy-sales-tax-on-entire-supply-chain-manufacturing
0

MoTI proposes zero-rated duty on textile machinery and no rise in sales tax on textile sector

Related Keywords: fabric, garment, Pakistan textile industry, Sales tax, textile machinery, Textile Ministry, textile policy, yarn, zero-rated custom duty

Karachi
Summary: 
As the textile policy (2009-14) formulated by the previous government will end on June 30, 2014. The Pakistan government is contemplating to impose 17 percent sales tax on import of textile machinery on expiry of the current facility ending in June, which is covered under the zero-rated custom duty and sales tax regime. Also the 2 percent sales tax on yarn, 3 percent of fabric and 5 percent on garments would be raised to 17 percent in next two year.

As the textile policy (2009-14) formulated by the previous government will end on June 30, 2014. The Pakistan government is contemplating to impose 17 percent sales tax on import of textile machinery on expiry of the current facility ending in June, which is covered under the zero-rated custom duty and sales tax regime. Also the 2 percent sales tax on yarn, 3 percent of fabric and 5 percent on garments would be raised to 17 percent in next two year.

http://www.brecorder.com/top-stories/0/1181626/
Textile Auxiliaries
0

Capta urges to zero sales tax for value added textile sector

Related Keywords: Capta, Pakistan textile sector, Sales tax

Karachi
Capta urges to zero sales tax for value added textile sector
Summary: 
The Council of All Pakistan Textile Associations (Capta) has urged the government to reduce the rate of sales tax to zero for the value-added textile sector to compete in global market as it is facing a number of problems during a meeting at PHMA House last week.

The Council of All Pakistan Textile Associations (Capta) has urged the government to reduce the rate of sales tax to zero for the value-added textile sector to compete in global market as it is facing a number of problems during a meeting at PHMA House last week.

Capta has expressed concern over Afghan transit trade which remains to be the biggest hurdle along with under invoicing, third port imports of Indian fabric and smuggling from India into Pakistan.

http://www.brecorder.com/cotton-a-textiles/185/1159936/
Textile Auxiliaries
Company News
0

Pakistan textile exporters decline over hike in ST

Related Keywords: Pakistan textile exporter, Sales tax

Lahore
Pakistan textile exporters decline over hike in ST
Summary: 
The Pakistan Apparel Forum (PAF), representing downstream value-added textile industry, on Wednesday has urged the Federal Board of Revenue (FBR) to consider knitwear and woven garment exporters separately in the sales tax regime from the suppliers of textile products to the local market who work in the undocumented, informal sector and avoid sales tax.

The Pakistan Apparel Forum (PAF), representing downstream value-added textile industry, on Wednesday has urged the Federal Board of Revenue (FBR) to consider knitwear and woven garment exporters separately in the sales tax regime from the suppliers of textile products to the local market who work in the undocumented, informal sector and avoid sales tax.

As the government plans to increase sales tax rate on textile industry from the current 2pc to 5pc in the first phase and 17pc in the next has caused a lot of concern among knitwear and woven garment exporters.

http://www.dawn.com/news/1086602/exporters-worry-over-report-of-hike-in-st
Textile Auxiliaries
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