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Tag Archives: textile sector

Production in garment, textile sector expecting big in Q4 of 2015

TEXTILE INDUSTRY

HANOI: Production in the garment and textile sector would be higher in the last quarter of this year as several domestic exporters have orders till the end of 2015, and even the first quarter of 2016. Nguyen Tien Vy, director of the Ministry of Industry and Trade’s Planning Department told an online meeting held in Ha Noi yesterday that the ... Read More »

No option but to supply gas to textile: Afridi

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FAISALABAD: The government has been working on war-footings to bridge huge gap between demand and supply of gas and a comprehensive strategy has been penciled to overcome energy challenges. The government has no option but to ensure gas supply to textile industry to increase exports and strengthen sinking economy. Federal Minister for Textile Abbas Khan Afridi stated this while addressing ... Read More »

6.86pc overall decline: Textile exports fall 1.54pc to $4.6b against $4.7b

textile

ISLAMABAD: Crippling energy crisis and uncertain political scenario pushed the country’s textile exports by 1.54 percent during July-October (Four months) of the financial year 2014-15. The textile exports stood at $4.6 billion during July-October 2014-2015 as against $4.7 billion in the corresponding period last year, showing a decline of 1.54 percent, according to the Pakistan Bureau of Statistics (PBS). After ... Read More »

Apparently govt gives in: PM sets up body to end gas shortage to textile

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ISLAMABAD: Following the suspension of four months gas load management plan for textiles in Punjab province, Prime Minister Nawaz Sharif constituted a high-level committee under the chair of Finance Minister Ishaq Dar to settle the issue of gas shortage for textile during winter. The committee has been assigned to devise a mechanism for sustainable gas supply to textile industry of ... Read More »

Flawed load management plan, Finance Ministry overstepped Petroleum Ministry’s domain: PEW

Dr Murtaza Mughal

ISLAMABAD: The government’s electricity and gas load management plan which prefers textile sector to the masses is flawed and faulty besides showing a major policy shift aims at pleasing the influential textile sector. But it will hardly work for a month only. Pakistan Economy Watch (PEW) Dr Murtaza Mughal pointed out that the government’s new plan for energy load management ... Read More »

No gas for Punjab CNG stations, industries from Nov 15 to March 15

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ISLAMABAD: The Sui Northern Gas Pipelines Limited (SNGPL) is going ahead with its planned suspension of gas supply to CNG filling stations and industries in Punjab from Nov 15 this year to March 15, 2015. The strategy has been devised under the government’s load-management plan to ensure smooth gas supply to domestic and commercial consumers. The plan likely to affect 2,000 ... Read More »

ECC okays 20pc duty on wheat import, Rs12b loan guarantee for PIA

Dar ECC1

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, under the chairmanship of Finance Minister Ishaq Dar, has decided to impose 20 per cent regulatory duty on the import of wheat due to rising trend of wheat imports despite a very good crop in the country. Meanwhile, the ECC also approved government guarantee for loans to PIA amounting to Rs12 ... Read More »

Commerce Ministry to take up Indian subsidized agri exports at WTO

WTO

ISLAMABAD: The Ministry of Commerce (MoC) has decided to take up the trade injury of export of subsidized Indian agricultural products at the forum of World Trade Organization (WTO). ‘The very issue of imposition of non tariff barriers on Pakistani exports will also be raised at WTO,” a source privy to Minister for Commerce told this scribe here on Wednesday. ... Read More »

LTU gets 70 cases for audit

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LAHORE: The Large Taxpayer Unit (LTU) Lahore has been assigned almost 70 cases for audit through random computer selection. On the other hand, the LTU could not meet the set target during the first quarter of the current fiscal year. Sources told Customs Today that the LTU failed to meet the target until Monday. They said that the LTU faced ... Read More »

Viability of textile industry

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According to newspaper reports, the Ministry of Textile has warned that the textile industry is heading toward bankruptcyas export of textile products have decreased by five percent during the first two months of the current fiscal year. The ministry blames the Ministry of Finance for refusing to provide Rs 188 billionfunds which the government had promised under Textile Policy of ... Read More »

Holder of taxpayer card to get numerous benefits: Bajwa

Bajwa

MULTAN: Federal Board of Revenue (FBR) Chairman Tariq Bajwa disclosed that Nadra had designed a ‘distinction’ card for the taxpayers and holders of this card will get numerous benefits. Addressing members of Multan Chamber of Commerce and Industry (MCCI), Bajwa pointed out that holders of this card would be entitled to pay concessional tax on the purchase of cars and ... Read More »

Prudent policies boost exports significantly

Exports increased

ISLAMABAD: What is being attributed to the prudent policies of the incumbent government, export of the country increased significantly during the period July-March 2013-14. As a result of government steps, the textile exports increased by 8% generally, while exports in all value added categories showed higher increased i.e. bed wear by 21%, hosiery by 10% and readymade garments by 9%. ... Read More »

FBR wants, exporters oppose hike in ST for zero-rated sectors

tax hike

ISLAMABAD: The five leading export-oriented sectors particularly textile sector is strongly against the likely hike in sales tax rates on textile, leather, carpets, surgical and sports goods in the new budget as the sector through the Textile and Industry Ministry has proposed zero-percent sales tax on the sector. During the budget preparation exercise for 2014-15, the Federal Board of Revenue ... Read More »