Related Keywords: global textile markets both in basic and value-added textiles, law allows import of blended yarn or fabric to be used for exports at zero duty, Pakistan Bureau of Statistics data, Pakistan’s basic textile, ratio of each input used in garments and knitwear, textile exports declining by 10 percent between 2011 and 2018, textile exports ticked up 7.14 percent year-on-year
Pakistan’s textile exports have been tapering off for the last four years, but an incentive package valuing Rs 180 billion, comprising rebates and tax concessions announced in January last year, bucked up exporters to contend for increase their share in the markets around the world.The exports should be regularly subjected to audit from third party to ascertain the use of imported inputs after one year. The bureaucracy should remain out of this process. All documented imported inputs used by this sector should be allowed at zero duty and consumption verified through exports.
