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FPCCI calls for cut in production cost of textile industry

FPCCI calls for cut in production cost of textile industry

KARACHI: FPCCI Vice President Saquib Fayyaz Magoon has urged the federal government to bring down the present tariff rates on gas and power in the country at par with regional competitors to make Pakistan’s export competitive in the global market.

He made the demand during a meeting with Federal Secretary for Ministry of Textile Industry Hassan Iqbal, here at the Head Office of Federation of FPCCI, according to a press release. Magoon showed concern on allowing rebate to export of yarn, which was a basic raw material for weaving industry.

He proposed that like textile machinery, the import of spare parts should also be allowed at zero rate as these were ultimately sold to the textile industry. The Secretary for Textile, in response to a query, said that Plastic Technology Center (PTC) Karachi as per Federal Cabinet decision would be affiliated to NTU, Faisalabad as its campus under the administrative control of the Ministry of Textile with the financial help of HEC, Ministry of Finance (MOF) and Ministry of Commerce (EDF).

It would be a modern centre which would be run under the guidance and in close coordination with Pakistan Plastic Manufacturers’ Association, he added. The meeting was attended by a number of senior business leaders.