Textile city to be established soon in Karachi

YarnsandFibers News Bureau 2016-07-17 15:00:00 – Karachi

Federal Secretary for Textiles Ministry Amir M Khan Marwat addressing a meeting at the Federation House organized by the Standing Committee on Textile Apparel of the Federation of Pakistan Chambers of Commerce and Industry said that a Textile City to be established soon in Karachi on government of Sindh allotting land for which the federal government has already paid Rs. 300 million.

The government is doing its best for the development of textile industry as this is an important industry providing 40 percent industrial jobs and earning 60 percent foreign exchange.

Amir Marwat said that the government has introduced performance based incentives for textile industry in the Textile Policy 2015 to encourage the industry and exports and Rs 6 billion will be given to textile industry every year for next five years on account of Drawback of Local Taxes and Levies (DLTL), Long Term Financing Facility (LTFF) and rewards according to performance.

He claimed that the exports from Pakistan have started to grow and the government envisages more exports growth in coming years.

The federal government is trying its best for establishing a Textile City in Karachi like that of Faisalabad and Rs. 300 million has been given to Sindh Government for acquiring the land. But, he continued that the Sindh government has informed that the land will be allotted as soon the litigation regarding the land is over.

Regarding refund claims, according to his ministry Rs. 20 billion refund claims are pending but the ministry has decided to do survey of real claimants and then release the refund and hopefully this job will be done within a short period. He also appealed textile mills owners to cooperate in this regard.

Senior Vice President FPCCI Sheikh Khalid Tawab urged the government to appoint a minister for textiles ministry so that the government could face Indian planning well and save their export-oriented industry. He demanded to release tax refund of various industries amounting to more than Rs 300 billion.

Khalid Tawab also demanded to change the name of DLTL Scheme to Reward on Incremental Export and announce special incentives for cotton growing areas.

Vice President FPCCI Zulfiqar Sheikh, Chairman Standing Committee Naqi Bari, Ikram Rajput and leading members of the FPCCI were also present in the meeting.

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