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Related Keywords: benefit garment sector, cotton yarn, fabric commercial and value addition sector exporters, facing 10 percent regulatory duty on import, import of cotton yarn, Pakistan Apparel Forum, Pakistan government, reduction in regulatory duty

Pakistan government likely to consider reduction in regulatory duty on the import of cotton yarn to benefit the garment sector as the cotton yarn, fabric commercial and value addition sector exporters are now facing 10% regulatory duty on imports from November 1, 2015, a source in the Ministry of Finance has hinted.

The performance of value addition by woven garments sector is 846%, hosiery/knit garments 616% and spinning sector is 59%.

Related Keywords: APTMA, Export Re-Finance Facility rate, ginning and spinning sectors, grey and processed fabric, import of cotton yarn, impose ten percent regulatory duty, Pakistan government, promotion of tax culture, qualify for Long Term Finance Facility, reduced by one percent

After a meeting between Finance Minister Ishaq Dar and a delegation of the All Pakistan Textile Mills Association (APTMA) led by its Chairman Tariq Javed on Saturday, announced the decision of imposition 10 percent regulatory duty on import of cotton yarn and grey and processed fabric from November 1.

Related Keywords: APTMA, cotton trading activity remain closed, extended public holiday, fresh cotton enquiries dampened, gradually declined, new cotton bales, no transportation, occassion of Eid ul Fitr, Pakistan government, ready cotton business, to carry cotton from ginneries, to textile mills

The Pakistan government on the occasion of Eid-ul-Fitr announced that public holiday has been extended from 17 July, 2015 to 21 July, 2015 as a result business activity has mostly ceased as the various markets will remain closed for five days. Moreover, there will also be no trucks and transportation plying on the roads to haul any cotton from the ginneries to the textile mills in various parts of the country.

Related Keywords: Australia and other developed countries, enchance value added wool products, establish state of the art, main-streaming of backward, neglected areas of Balochistan, Pakistan government, seek international collaboration, vast tracks for cattle farming, wool development company

Pakistan government contemplating to establish a state-of-the-art Wool Development Company which will seek international collaboration from Australia and other developed countries for enhancing value added wool products, said Federal Minister for Food Security Sikandar Hayat Khan Bosan Thursday while addressing a seminar on 'world food day' at National Textile University.

Related Keywords: carpet exports, FTA, hand knotted carpet, handmade carpet, investment cooperation, MoU, Pakistan government, Pakistan textile imports, Pakistani textile and apparel exporter, protect Turkish industry, Turkey

Pakistan has been trying to convince Turkey to waive off or reduce 42.2 percent duty it has imposed on Pakistani textile imports since 2011, but Turkey has always been coming up with a negative response. To this, the government has finally taken decision to end its efforts to convince Turkish government.

Related Keywords: CPFTA, Federal Minister for Commerce, Khurram Dastgir, new textile policy, Pakistan government, sign FTA with China and ASEAN countries, textile companies, trade and export, value added exports

Pakistan government to promote trade and export efforts are in the process to sign Free Trade Agreement – II with China and also to sign Free Trade Agreements (FTAs) with ASEAN countries. Federal Minister for Commerce Khurram Dastgir said that China has promised to offer more facilities and market access to Pakistan’s products under the second phase of China-Pakistan Free Trade Agreement (CPFTA), which is under process to be signed between the two countries. Three rounds of dialogue have been held so far on the CPFTA.

Related Keywords: allocated 100 MMCFD gas, employment, export oriented industry, exports to EU, focus on apparel industry, gas and power supply, generate $500 million, generate foreign exchange, Pakistan government, Prgmea urged, spinners facilitated, value-added textile industry

The Pakistan government has allocated about 100 MMCFD gas to the entire export-oriented industry but now the spinners are being facilitated only. The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Central Chairman Ijaz Khokhar as requested MoC to keep focus on apparel industry which can generate foreign exchange, contribute to local taxes and generate employment.

(PRGMEA has urged the govt to prioritize value-added textile industry in energy supply on the patron of Bangladesh, as the garment industry is presently without gas in Punjab.

Related Keywords: acute energy shortage, APTMA, currently fnancial year, domestic consumer, energy supply, industrial tarifff, no new investment, Pakistan government, Pakistan textile sector, prioritizing, Punjab textile industry, S M Tanveer, shut down, suspension of gas, textile exports loses to $2.2 bn, Textile Industry

The Punjab-based textile industry, which contributes 70% of the total textile sector of Pakistan, fears that if the sector is not given supply of energy, the textile exports loses will go up to $2.2 billion over the rest of current financial year, said Central Chairman SM Tanveer of All Pakistan Textile Mills Association (Aptma).

Overall textile exports of Pakistan in six months between April and September shows that the country has already lost $1.2 billion on the account of acute energy shortage in Punjab, which is an alarming sign.