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Related Keywords: cash crunch, drawback on local taxes and levies, Federal Board of Revenue, Pakistan textile industry, Pakistan value-added textile sector, payable to exporters, PRGMEA, sales taxes, textile export

Pakistan value-added textile sector hamstrung by cash crunch as more than Rs 205 billion refunds has been stuck up with the government. Federal Board of Revenue (FBR) still withholds more than Rs 13 billion under Drawback on Local Taxes and Levies (DLTL) claims and about Rs 17 billion sales taxes under refund claims, causing immense problems to the textile industry, according to Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA).

Related Keywords: adequate policy support, cross USD 500bn mark, domestic market, Indian textile industry, PCI Xylenes & Polyesters, Polyester Textile Investment Promotion Cell, textile export, Wazir Advisors

Indian textile industry with adequate policy support from the government and rights steps has all the potential to cross USD 500-billion mark by 2025 from its present estimate of USD 108 billion.

Related Keywords: Association of buying agent, commission agent, export of service, foreign currency, MoU, readymade garment, service tax, Textile, textile export, Union Finance Ministry

The Association of Buying Agents for Textiles has submitted a memorandum to the Union Finance Ministry seeking relief from service tax levied on them in the recent Budget. The textile buying agents so far were exempted from service tax, as it amounted to export of services and were earning foreign currency for the country, said M Anand, General Secretary of the association.

There are over 700 such agents across the country who play a vital role in garment exports as close to 80 per cent of the export business is generated through them.

Related Keywords: All Pakistan Textiles Mills Association, experience drop, fabric production, high power consuming sector, pakistan spinning sector, Pakistan textile industry, pakistan weaving industry, textile export, textile trade body

Pakistan’s all high power consuming sectors weaving and spinning registered a drop in exports by 2.37 percent in July due to power supply and instability prevailing in Pakistan. But the share of textiles in total exports of Pakistan has improved to 64 percent in July, according to textile trade body.

Related Keywords: European countries, GSP Plus status, Pakistan export, textile export, textile intermediary, trade preference

Pakistan witnessed export growth of $333.18 million (15.76 percent) to 28-member European countries- European Union (EU) under the autonomous trade preferences on 75 products in the first four months from January to April 2014. The sector wise break up of exports revealed textile remained the major beneficiary of the GSP plus arrangement.

Related Keywords: FDI, foreign importers, global investor, international market, Pakistan textile industry, textile export

According to the State Bank report, there is 80 percent decline in the FDI, in July FDI dropped to just $24 million from $119m in the same month last year.

With Pakistan facing sharp decline in FDI, it is likely to break the confidence of foreigners willing to invest, particularly while the neighbouring India looks more attractive with $28 billion FDI in 2013.

The government has already completed 14 months in power, in fact struggling hard to invite foreign investors. But the result seems extremely poor so far.

Related Keywords: FDI in textile, Indian textile sector, ISDS, market development, powerloom, SITP, techinical textile, textile export, Textile Ministry, TUFS

Resurgence has been witnessed in the Indian textile sector with the introduction of Foreign Direct Investment (FDI). Maximum utilization of FDI has been ensured by the textile minster and his ministry. The government is providing grants under market access initiative and market development assistance scheme for this purpose.

Related Keywords: investment opportunities, Kenya textile industry, local manufacturers, one billion dollar, policies, reduce cost, Special Economic Zones law, Textile City, textile export

Kenya plans to push its current 300 million dollar worth of textiles exports to at least one billion dollars in the next two years for which they need to reduce the cost of doing business and at the same time improve the ease of doing business.

According to Industrialization Cabinet Secretary Adan Mohammed to achieve the target of one billion dollars of textile exports annually to the U.S. in the next 24 month, the goal will only be achieved if Kenya becomes a low cost apparel manufacturing country.

Related Keywords: Indian textile industry, Market Linked Focus Product Scheme, new market, non-traditional market, shows and exhibitions, textile export, textiles export promotion councils, Union Textile Minister

One of the leading focuses of the Modi Government, the textile industry, is all set to foster as an apposite move has been made by the Union Textiles Minister to burgeon the sector’s exports.

He announced that the Government is providing grants under Market Access Initiative and Market Development Assistance Scheme. The grants include assistance to textiles exporters for export promotion activities abroad, assistance to textiles export promotion councils (EPCs) to undertake export promotion activities for their products and commodities.

Related Keywords: collaboration, global market, ILO-ILS textile programme, International labour organisation, Pakistan labour law, Pakistan textile exporters association, textile export

With an aim to improve the application of labour laws in Pakistan and ensure stability of the country’s exports to the global market, the Pakistan Textile Exporters Association (PTEA) in collaboration with the International Labour Organisation (ILO) has designed an ILO-ILS Textile programme.
 
According to PTEA Chairman and Vice Chairman Sheikh Ilyas Mahmood, the programme has been set up in a way to further the agenda of ILO in Pakistan. A Memorandum of Understanding (MOU) will be signed between the two bodies this month.