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Eleven Pakistan textile companies invested in foreign firms in last 5 yrs

Related Keywords: allowing residents and firms, during last five years, eleven Pakistani companies, France, invest in foreign companies, invested abroad, invested in its liaison office in Paris, Pakistan Bedwear Exporters Association, Pakistan government, prior approval of State Bank of Pakistan, SBP circular, textile-related businesses

With the Pakistani government allowing residents and firms to invest in foreign companies with prior approval of the State Bank of Pakistan (SBP) vide SBP circular FE-12 dated September 1, 2001, eleven Pakistani companies have invested Rs 664.02 million abroad in textile-related businesses during the last five years.

Pakistan textile industry seek full refund of export tax rebates asap

Related Keywords: All Pakistan Textile Mills Associationm Pakistan Apparel Forum, non-repayments of refund, Pakistan Bedwear Exporters Association, Pakistan govt to clerar refund, textile exporer reduce profitabiliy, Textile exporter, verge of collapse

Pakistan government is yet to clear refunds worth Rs50 billion for textile exporters under the duty drawback scheme, accumulating till October 2014. The delay in releasing the outstanding tax and duty drawback could further weaken the sector’s ability to export and also reduce their profitability.
Pakistan’s textile industry has been looking forward to a full refund of export tax rebates as early as possible.

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