YnFx logo
FacebookFacebookFacebook

News Tags

warning: Creating default object from empty value in /var/www/html/html/vhosts/ynfx_drupal/modules/taxonomy/taxonomy.pages.inc on line 33.

Zimbabwe to push capacity utilization of its textile sector

Related Keywords: ban second hand clothes, discourage cheap imports of textile products, duty on poly knitted fabric, local textile industry, open general import licence, push capacity utilization, reeling under low capitalization levels, statutory instruments, Zimbabwe Textile Manufacturers Association, Zimbabweab government

The Zimbabwean government has gazetted some Statutory Instruments to discourage cheap imports of textile products into the country, this is likely to push the capacity utilization of local textile industry to 45 percent this year, an official said.

Zimbabwe Textile Manufacturers’ Association secretary-general, Raymond Huni said that the industry would take off well this year due to measures introduced by government to protect the industry.

Zimbawean textile sector welcomes the removal of blankets on Open General Import Licence

Related Keywords: boost capacity, Finance minister Patrick Chinamasa, increase customs duty on poly-knitted fabric, Manufacturers’ Rebate of duty, open general import licence, removal of blankets, twenty four months, Zimbabwean textile sector

Finance minister Patrick Chinamasa announces removal of blankets from the Open General Import Licence for a period of 24 months, as it would boost their capacity which was welcomed by the Zimbabwean textile sector. However, the sector was quick to urge the government to be implementers of the policies not only crafters.

Presenting his mid-year fiscal policy review last week, Chinamasa said that the textile industry was one of the low hanging fruits, whereby turnaround could be realized within a short period, if adequate support was availed.

Copyright © 2014 Centerac Technologies Limited. All Rights Reserved
-->
feedback button