News Tags

Related Keywords: Gul Ahmed textile, Pakistan textile industry

Gul Ahmed Textile, one of Pakistan’s largest composite textiles mills making good gain. Its earnings are up by 233% for the six month period ending December 2013, a revenue of Rs.570 million after tax was posted against Rs171 million for the corresponding period of the previous year.

Second quarter (October-December 2013) of the current fiscal year (FY2013-14) has been exceptional for the company, which saw an earning of Rs414 million, up 294% compared to Rs105 million in the corresponding quarter previous year.

Related Keywords: GSP Plus status, Pakistan textile industry, Textile exporter

Pakistan textile exporters have started picking up benefits by shipping consignments under the GSP plus arrangement. The routine business with the EU has started gaining momentum and actual benefit of the scheme will get clear by next six months.

Related Keywords: leather, Pakistan leather industry, Pakistan textile industry, Sales tax, textile made-ups

The Federal Board of Revenue (FBR) of Pakistan has send out a clarification on Saturday to the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) and the Chief Commissioners of the LTUs and RTOs on the rate of sales tax on textile and leather finished products. FBR has put across to follow the new FBR clarification on sales tax in the field formations.

Related Keywords: Chinese firms, investment, Pakistan textile industry, Textile

Chinese companies are studying the trading cost in order to fetch as well as relocate their units to Pakistan in order to grab the opportunity oozing out of GSP plus status. Chinese delegation has recently visited Pakistan to assess the investment potential in Pakistan as many Chinese companies are all set to invest in Pakistan's textile industry

Related Keywords: Pakistan textile industry, textile exports

Pakistan textile exports have significantly improved, the consistent supply of gas to export oriented textile sector produced the desired results, especially in Punjab. For the first time, the government realized the fact and ensured gas supply to textile export industry under a special arrangement during winters which proved a successful step.

Textile exporters have welcomed the growth of 22.4 percent in textile exports for the month of December 2013 and termed the surge a pleasant sign for ailing economy.

Related Keywords: energy supply, Pakistan textile industry, Textile

The All Pakistan Textile Mills Association (APTMA), has claimed that energy supply to textile industry has resulted in 21 percent increase to $215 million in December to December period and now APTMA is hopeful to achieve $3 billion exports out of the capacity, which was earlier closed.

Aptma’s zonal chairman SM Tanveer said on Wednesday that increased supply of electricity and gas to the industry in Punjab had resulted in growth of textile and clothing exports.

Related Keywords: industrial wastewater treatment plants, Pakistan exporters, Pakistan textile industry

The Pakistan Textile Exporters Association (PTEA), Pakistan Hosiery Manufacturers and Exporters Association (PHMA) and All Pakistan Textile Processing Mills Association (APTPMA) in a joint meeting yesterday decided to put forward their demand to the government for establishing combined industrial wastewater treatment plants at major drains to improve the state of health and safety.

The bodies also suggested devising a road map, according to standards set under the World Trade Organisation regime, and it should be finalised after consultation of all stakeholders.

Related Keywords: eastern European market, GSP, Pakistan textile industry

To achieve the benefits of Generalised System of Preferences (GSP) Plus scheme, Textile Industry Division Federal Secretary Rukhsana Shah has advised value-added textiles sector to prepare itself for the Eastern European markets because of their strong growth potential.

Pakistan has received such tax incentives after a period of 10 years, providing the country enough time to prepare short and long-term strategies, she said, adding that this would help to increase the country’s textile exports to the European Union.

Related Keywords: Cotton market, Pakistan textile industry

Cotton market on Monday continued to remain lifeless as where buyers and sellers moved to the sidelines. The trading activity dipped down to rock bottom and only a few deals transpired. However, prices remained steady and underlying sentiment were also strong.

As a result of this it seems that both buyers and sellers have taken a pause before making their next move.

The Karachi Cotton Association (KCA) spot rates were steady at previous level and trading activity on ready counter was slow and restricted.