Industry News

Cheap gas, electricity to be provided to textile industry

FAISALABAD: State Minister for Finance Rana Muhammad Afzal Khan on Monday said that gas prices would be further decreased for textile industry to reduce cost of production to maximum extent. Addressing a meeting at All Pakistan Textile Processing Mills Association (APTPMA) here, the state minister said the government had planned to provide electricity at rate …

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Pakistan plans Rs10b research fund to boost cotton output

ISLAMABAD: The Pakistan government is likely to announce a Rs10-billion research development fund in an effort to boost cotton production next season as the harvest remains unimpressive for the past few years. Talking to The Express Tribune, a senior government official disclosed that a high-level meeting on Wednesday tried to prepare a plan for enhancing …

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Pakistan exports to EU grow by almost 6%

Pakistan’s exports to the 28-member European Union (EU) posted a growth of nearly 6% in January-September 2017 on a year-on-year basis. This shows that the Generalised System of Preferences-Plus (GSP+) scheme largely failed to boost exports to the EU. Total export proceeds to these countries amounted to €5.07bn during the period under review against €4.79bn a …

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Pakistan invites Japan to assist in promoting its textiles through PTA

ISLAMABAD: Minister of State for Finance, Rana Muhammad Afzal Khan invited Japan to assist Pakistan to promote its textile through Preferential Trade Agreements (PTA). During a meeting with Ambassador of Japan, Takashi Kurai, who called on him, Rana said Pakistan highly values its relationship with Japan, a press statement said. He hoped that the economic …

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No sales tax, customs duty on cotton imports in Pakistan

The Pakistani Government last week withdrew sales tax and customs duty on cotton imports with effect from January 8 to meet the shortfall of silver fibre, a key input in the country’s textile industry. The Economic Coordination Committee (ECC) of the cabinet approved a proposal regarding the same at a meeting headed by Prime Minister …

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ASEAN & South Asia Dyestuff for Textile Market to Reach $1,938.9 Million by 2023: P&S Market Research

According to the new study published by P&S Market Research, the ASEAN & South Asia dyestuff for textile market is forecasted to Reach $1,938.9 Million by 2023. The growth of the ASEAN and South Asia dyestuff for textile market is mainly driven by the tremendously high demand of dyestuff from the home textile and automotive …

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PEW demands leather promotion for economic growth

The Pakistan Economy Watch (PEW) has asked the government of Pakistan for the development and promotion of the local leather industry for positive growth on the economy. A request has been made to the policymakers for more relaxations in the taxing system so that Pakistan leather industry could regain its position in the international market. …

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PYMA urges govt for elimination of tax on yarn import

The Pakistan Yarn Merchants Association (PYMA) has urged the Pakistan government for removal of the regulatory duty on the import of yarn. An appeal has been made to Dr Miftah Ismail, advisor to the Prime Minister on finance, revenue & economic affairs, for supply of affordable raw materials to the textile industry to increase the …

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Industry hopes textile exports will jump to $13b this year

FAISALABAD: Textile exports have been going up steadily since the start of the current fiscal year in a positive sign that raises expectations that full-year proceeds will touch $13 billion after a hiatus of two years. Textile shipments jumped 7.66% year-on-year to $5.51 billion in the first five months (July-November) of the current fiscal year, …

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