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Related Keywords: boost exports, cash subsidy, duty exemption on plants and machinery, incentive package carries, long term loan, number of exogenous and indigenous factors, Pakistan textile policy, remained stagnant, special DBK, textile and clothing sector, textile sector in Pakistan

The textile sector in Pakistan had remained stagnant over the last decade due to a number of exogenous and indigenous factors. Under the Pakistan textile policy (2015-19), incentive of Rs 64.15 billion cash subsidy to the textile and clothing sector has been announced which would boost the exports to $ 26 billion by 2019. The incentive package carries special duty-drawback rates, duty exemption on plants and machinery and subsidy on long-term loans.

Related Keywords: boost textile and clothin sector, Custom rebates, DLTL, for next five years, GSP Plus facility, introduce special gas and electricity tariff, of exporters, Pakistan textile policy, PRGMEA, sales tax rebate, to release all stuck up claims, urged government

Muhammad Naseer Malik, Vice Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) appreciating the government of Pakistan for announcing an ambitious Textile Policy for next five year 2014-19 has urged the government that all stuck up claims of the exporters including DLTL, Custom Rebates, Sales Tax Rebate etc need to be released within a month.

Related Keywords: APTMA, DBK allowed only on, implement the policy, incremental exports, mixed reaction, no incentive for spinners, Pakistan Apparel Forum, Pakistan textile policy, PBEA, textile exports, Textile Industry, timeline of refunds

Mixed reactions coming in from the Pakistan textile industry on the announcement of its new textile policy 2014-19, according to Pakistan Apparel Forum’s Chairman Muhammad Jawed Bilwani, under the present economic circumstances no better policy could have been expected but stressed on implementing the policy in letter and spirit to get required targets.

He said that the new five-year policy would go a long way in benefiting the entire textile sector and boosting exports of value-added garments and apparel.

Related Keywords: APTMA, fifty percent at standstill, flooding of imported cloth, Pakistan textile policy, pakistan weaving industry, regional countries, smuggled cloth, textile specific subsidies by India

The weaving industry of Pakistan has come to standstill by fifty percent due to the flooding of imported as well as smuggled cloth from regional countries. Moreover, the Pakistan textile policy 2014-19 has not seen daylight despite eight months of current fiscal, reflecting lack of interest of the federal government in promoting and protecting textile industry.

Related Keywords: cash incentives, credit subsidies, delay the approval, Economic Coordination Committee, future exports and investment, Heimtextil fair, incentive package, Pakistan exporters, Pakistan textile policy, PRGMEA, tax exemptions

Pakistan exporters disappointed with the decision of the Economic Coordination Committee to delay the approval of the second five-year Pakistan textile policy 2014-19 for another couple of weeks, as they were eagerly awaiting cash incentives for their future exports and investments.

The textile policy was originally due in September. The sooner the policy is finalised, the better for the industry and textile exports, as the Heimtextil fair [in Germany] is fast approaching.

Related Keywords: Abbas Khan Afridi, Economic Coordination Committee, Federal textile board, GSP Plus scheme, MINTEX, multi-pronged strategy, Pakistan Central Cotton Committee, Pakistan textile policy, textile business community, textile cess, textile exports

The Secretary Ministry of Textile Industry (MINTEX) at the first meeting of Federal Textile Board held on Monday after its reconstitution in July 2014 chairing by Minister for Textile Industry Abbas Khan Afridi announced that the Pakistan’s textile policy would be presented in the next Economic Coordination Committee (ECC) of the Cabinet meeting also restructuring of Pakistan Central Cotton Committee (PCCC) was also on cards.

Related Keywords: global trade, GSP plus regime, Pakistan textile policy, readymade garment, textile sector, value added textile sector

The delay in reintroducing the textile policy poses a big challenge to the Pakistan textile sector to deal with the global buyers for the coming seasons. The entire textile sector is under stress for want of a policy and held up in midway to carry on their global trade especially with the EU under the GSP Plus regime as the textile policy lapsed last month. The policy that helps the industry boost.