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Related Keywords: abolish Export Development Surcharge, allow stitching units to import raw material, at the time of realisation and payment of export proceeds, Customs rebate claims, deducted from export proceeds, EDF, Pakistan government, PHMA, settled and paid through SBP, under DTRE scheme, urged by Pakistan Hosiery Manufacturers and Exporters Association

The Pakistan government has been urged by the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) to abolish 0.25 percent Export Development Surcharge which is deducted from export proceeds.

Pakistan Apparel Forum Chairman Jawed Bilwani speaking during a meeting of the National Assembly Standing Committee on Textile Industry, chaired by Member National Assembly (MNA) Haji Muhammad Akram Ansari at the PHMA House, said that they believe the surcharge on exports must be abolished as this will help exporters to use cash liquidity for enhancing the exports.

Related Keywords: additional rupees six billion, enhannce export competitiveness, improved export infrastructure, institutional strengthening, over next three years, Pakistan government, response to emerging international changes, spend rupees twenty billion, Textile exporters, through Textile Policy, under the Strategic Trade Policy Framework

The Pakistan government in response to emerging international changes has decided to spend Rs20 billion over the next three years under the Strategic Trade Policy Framework (STPF) 2015/18 to enhance export competitiveness and institutional strengthening, sources in the Commerce Division said on Saturday.

Related Keywords: current fiscal year, enhance trade relations with African countries, increase volume of bilateral trade, Pakistan government, plan to attend international exhibitions, promotional activities, rade Development Authority of Pakistan, TDAP

The Pakistani government is focusing on promotional activities to increase the volume of bilateral trade with Africa. According to the sources at the Commerce Division, the Trade Development Authority of Pakistan (TDAP) to enhance trade relations with African countries is planning to attend 15 international exhibitions during the current fiscal year.

Related Keywords: boost cotton exports, improve cotton exports, Pakistan government, shrinking global demand, textile sector

Pakistan government has taken many steps to boost cotton exports which has witnessed negative trends during the fiscal year 2015-16 as compared to the last fiscal year 2014-15.

Cotton exports have declined from $11,983 million in the fiscal year 2014-15 to $11,020 during the fiscal year 2015-16.

Due to inconsistency in yield of cotton crop, rising cost of business and shrinking global demand resulted in decrease of cotton prices in the market and consequently, this affected the exports.

Related Keywords: allocated six billion for textile policy initiatives, carpets, facilitate textile sector, facility duty free import of textile machinery, formulates Technology Up-gradation Fund scheme, Pakistan government, sales tax of five export oriented sectors, support schemes, Textile, under process in State Bank of Pakistan, zero rated tax regime

The Pakistan government had allocated Rs. 6 billion for Textile Policy initiatives for 2016-17 while support schemes would also continue during this year which include Sales Tax of five export oriented sectors namely textile, leather, sports goods, surgical goods and carpets had been made part of zero rated tax regime from July 1, 2016.

Further, all the pending sales tax refunds till April 30 whose RPOs have been approved, will be paid.

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.

Related Keywords: bring down cost of all essential utilies, custom rebate, Deduction of export development fund, increase exports, Pakistan government, par with regional competitors, take bold steps to raise exports, textile value added sector, under strategic trade policy framework, Worker Welfare Fund

Pakistan government being urged by textile value added sector to bring down the cost of all the essential utilities at par with the regional competitors to increase the country’s exports to $35 billion by 2018. The country needs to increase exports with approximately 30 percent growth every year until June 30, 2018 and with 30 percent growth every year the exports will reach to $27 billion in 2016/17 and $35 billion in 2017/18.

Related Keywords: boost Pakistani export, drawback on local taxes and levies, duty drawback, including value added textile industry, Pakistan government, PRGMEA, refund payments against sales tax, support five export oriented industries, zero-rated regimes

The Pakistan Government has provided all its possible support to ensure inclusive growth and employment generation in five export oriented industries including the value added textile industry and boost Pakistani export.

Related Keywords: cheaper products to Turkish consumers, FTA, mutual benefit for both countries, negotiations on fast-track basis, Pakistan government, Pakistani textile products, revive textile economy, services and investment, special focus on goods, Turkey, Turkey levied heavy duties

The Pakistan government views Free Trade Agreement (FTA) with Turkey as the key to revive the textile economy. Currently, Turkey has levied heavy duties on Pakistani textile products and FTA would not be possible without lifting or easing the rates of duties by the Turkish government.

The introduction of FTA would be helpful in earning foreign exchange reserves from the export of textile as well as other such as fruits and vegetables. It will also facilitate the provision of comparatively cheaper products to Turkish consumers.

Related Keywords: accepts three out of eight demands of textile industry, at reduced prices, continue to agitate, long-term financing to the ginning and spinning sector, on import of Indian cotton yarn and fabric-coarse cloth, Pakistan government, raise the regulatory customs duty, reduction in long-term ERFF, to boost production and exports

The Pakistan government has accepted three out of the eight demands of the textile industry to help boost production and exports at reduced prices. But the Pakistan’s textile industry welcoming this gesture announced that it will continue to agitate for the acceptance of the rest of the demands. The three accepted demands are: