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Related Keywords: apprised of a Memorandum of Understanding, collaborative research in silkworm rearing, enhance exports, improve manufacturing capacity, National Institute of Agrobiological Sciences of Japan, quality of Indian sericulture industry, signed between Central Silk Board of India, silk industries, Union Cabinet headed by Prime Minister Narendra Modi

The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday was apprised of a Memorandum of Understanding (MoU) signed between the Central Silk Board (CSB) of India and the National Institute of Agrobiological Sciences (NIAS) of Japan for collaborative research in the field of silkworm rearing and silk industries.

As a result of the MoU, Indian textiles and apparel industry would be able to produce world-class silk and silk products. The improvement of quality and productivity would ultimately increase export of silk products.

Related Keywords: at least Rs sixty billion, customs and sales tax rebate, drawback of local taxes and levies scheme, enhance exports, export oriented industry, PRGMEA, Prime minister package, release of stuck tax refund claims, upcoming budget under the prime ministes package, urged government to allocate, value-added textile industry

Appreciating the prime minister for announcing the Rs180 billion package for enhancing exports, The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has urged the government to allocate at least Rs60 billion for the export-oriented industry in the upcoming budget 2017-18 under the prime minister’s Rs180 billion package.

They have also asked for the release of stuck tax refund claims of exporters, including the drawback of local taxes and levies scheme, customs and sales tax rebate, etc.

Related Keywords: burdened due to high tariff, cost of making garments, enhance exports, exports in form of finished products, finished textile goods are the only viable solution, Pakistan is almost double, PRGMEA, recommends zero rated regime, utilize raw materials

In order to enhance exports, the Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) recommends announcement of zero-rated regime by the prime minister; release of stuck up refund payments against sales tax, duty drawback and drawback on local taxes and levies (DLTL); No payment no refund system; tariff of electricity, gas and water for export sectors should be brought down; and incentives on exports as per the competitors countries.

According to the association, finished textile goods are the only viable solution to boost the country’s exports.

Related Keywords: current five percent duty on the import of cotton yarn, enhance exports, PAF Chairman Jawed Bilwani, Pakistan Apparel Forum (PAF) members, reduction in all cost of inputs, value added textile sector burdened, verge of collapse, withdraw duty

The Pakistan Apparel Forum (PAF) members said on Thursday said that the value added textile sector is burdened due to the current 5 percent duty on the import of cotton yarn and the industries are on verge of collapse, hence the government should withdraw duty on the import of cotton yarn help the value added textile sector enhance its exports.