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Pak textile industry likely to lose markets despite zero-rated regime

Related Keywords: All Pakistan Textile Mills Association, DLTL scheme, government declaring zero rated tax regime, levies, lose markets internationally, make exports costlier, Pakistan textile industry, presumptive taxes, regional competitors, substantial drop in textile exports, surcharges and cess, Textile exporters, various taxes

The Pakistan textile industry likely to lose markets internationally despite government declaring zero rated tax regime, because of various taxes, levies, presumptive taxes, surcharges and cess, makes the exports 10 to 15 percent costlier against the regional competitors.

Pakistan's exports have come down by 12 percent against over $13 billion last fiscal year due to the incidentals of various taxes, levies and surcharges.

Aptma decides to put operations of textile units off voluntarily

Related Keywords: affecting the textile units, APTMA, cost of doing business increasing, electricity tariff investment climate, incur losses, Pakistan textile industry, punitive withholding tax regime, regional competitors, system inefficiencies, voluntarily close down mills

The Chairman of the All Pakistan Textile Mills Association, Mr S.M. Tanveer had called for an emergency meeting of Aptma’s general body to deliberate on the adverse circumstances and found it not viable to incur losses by operating mills partially. Mr Tanveer said on Sunday that the association had decided to ‘voluntarily’ close down the textile industry because of the losses it had been suffering.

The Aptma chairman had appealed to the government to save the textile industry from collapse and save jobs of a 10 million-strong workforce.

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