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Related Keywords: boost exports, budget announcement, export oriented industries, issuance of Statutory Regulatory Order, Pakistan Finance Ministry, retail sales, Sales tax, value added textile industry, zero rate regime

The Finance Minister Ishaq Dar after announcing zero rate regime in the budget on 3rd of June for export oriented industries to boost exports, a long standing demand of the value added textile industry. Textile industry is now waiting for the issuance of Statutory Regulatory Order (SRO) on zero-rate regime for export-oriented industries.

Related Keywords: APTMA, GSP Plus status, Quaid-e-Azam Apparel Park, see availability of RLNG, substantial drop in energy cost, to invest heaving on setting denim units, Top three textile groups from Pakistan, value added textile industry

Pakistan's top three textile groups seeing the availability of Re-gasified Liquid Natural Gas (RLNG) from the month of March onward have invested heavily on setting up denim units. Fresh investment has started holding ground in the value added textile industry with a substantial drop in energy cost, which is likely to reduce further in next three months.

Related Keywords: attract new investment, entire refund verification, FBR, in zero rating facility, include export oriented, liquidity crunch, Pakistan Readymade Garment Manufacturers and Exporters Association, PRGMEA, revive economic growth, sanctioning process, streamline, value added textile industry

The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) in order to attract new investment, revive economic growth and get rid of liquidity crunch has urged for zero rating facility be given to export-oriented, value-added textile industry.

Prgmea Chairman Ijaz Khokhar in a statement on Saturday said that ‘No Tax, No Refund’ formula should be applied to value-added textile chain by including it in zero-rated regime as it is generating more employment and more revenue from other textile chain.