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Related Keywords: APTMA, delay in announcement of textile package, fresh demand, high cost of doing business, impact on cotton procurement, labour layoff, liquidity crunch, permanent closure of units, supply chian disruption, textile millers, textile sector, to announce package

The delay in the announcement of textile package was having serious aftermath on the textile sector including permanent closure of units, labour layoff, impact on cotton procurement and supply chain disruption, said All Pakistan Textile Mills Association (Aptma) Punjab chapter chairman Aamir Fiaz Sheikh, accompanied by former central chairman S.M. Tanveer, at a press conference held on Saturday.

Related Keywords: attract new investment, entire refund verification, FBR, in zero rating facility, include export oriented, liquidity crunch, Pakistan Readymade Garment Manufacturers and Exporters Association, PRGMEA, revive economic growth, sanctioning process, streamline, value added textile industry

The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) in order to attract new investment, revive economic growth and get rid of liquidity crunch has urged for zero rating facility be given to export-oriented, value-added textile industry.

Prgmea Chairman Ijaz Khokhar in a statement on Saturday said that ‘No Tax, No Refund’ formula should be applied to value-added textile chain by including it in zero-rated regime as it is generating more employment and more revenue from other textile chain.

Related Keywords: Chairman T Rajkumar, drop in cotton prices, increasing yarn stock, Indian textile products, Kiran Soni Gupta, liquidity crunch, MSP operations, poor offtake, SIMA, Souther India spinning mills, TUF subsidies, Union textile commissioner

The spinning mills of southern India is currently facing inevitable liquidity crunch caused by increasing yarn stock, poor offtake and long pending TUF subsidies. Southern India Mills’ Association (Sima) chairman T Rajkumar in his interactive meeting with Union textile commissioner Kiran Soni Gupta on Monday, urged Gupta to expedite the bail-out package to save thousands of small and medium units from becoming non-performing assets.

Related Keywords: anti-dumping duty, festive season, liquidity crunch, low market response, manmade textile players, raw material prices, South Gujarat Textile Exporters' Association, South Gujarat Textile Processors Association, Surat textile industry

Dull business since past 4-5 months has created liquidity crunch among the man-made textile players, especially in the processing, dyeing and weaving value chain. This has led to reduced ability among the textile players to process orders for the festive season this month.

Related Keywords: cotton arrival season, cotton price, cotton trading, India cotton industry, liquidity crunch, new arrival of cotton, poor demand, Saurashtra Ginners Association, SIMA, spinning industry, yarn mills

Cotton, which was quoted at Rs 40,000 per candy last Thursday, was trading at Rs 37,000 per candy (a candy of 356 kg) on Tuesday, registering Rs 3,000 drop in price, a decline by 7.5 percent per candy over the last four days owing to poor demand from yarn mills and following new arrivals of the crop in state like Punjab.

Related Keywords: FBR, garment export, GSP Plus scheme, liquidity crunch, Pakistan exporter, Pakistan garment sector, refund claims

Pakistan garment sector that exports more than 80 per cent of their merchandise, are facing liquidity crunch due to its huge capital stuck-up by the FBR. Although the FBR’s software system of RCPS is very excellent which completes refund process system within one month but finance ministry’s undue interference causes blockage of refund claims to the exporters, as presently more than 80 per cent textile exporters refund of over Rs10 billion is stuck by the FBR.