Home / Knowledge / News / Apparel/Garments / PRGMEA chief expresses unhappiness over budget
PRGMEA chief expresses unhappiness over budget
17
Jun '11
Mr Ijaz Khokhar
Mr Ijaz Khokhar
The recently announced budget has not been well-received by the value-added textile sector in Pakistan. The biggest setback is that, funds have not been allocated to the popular 'Drawback on Taxes and Levies Order, 2009 Scheme'.

“The scheme was supposed to be extended till 2014 but unfortunately it will now expire on June 30, 2011”, Mr Ijaz Khokhar - Chairman, Pakistan Readymade Garment Manufacturers & Exporters Association (PRGMEA), told exclusively to fibre2fashion.

In all, exporters have submitted claims amounting to Rs 28.72 billion as drawback of local taxes and levies to the apex bank of Pakistan, of which only Rs 5.3 billion have been disbursed.

Showing unhappiness with the budget, Mr Khokhar said, “The budget has been focused on tax and revenue collection. The whole textile and garment industry has not been taken into consideration. We are all waiting for the trade policy which is to be announced probably by the end of this month. Then only, will we have a clear picture about the Government's take on trade policies.”

He added by saying, “There is no clear incentive to the industry in the current budget. 90% of the budget has concentrated on revenue collection activities. The people in the value-added garment industry were expecting a lot because there was a lot of commitment in the tax policies which had been announced two years back.”

“Huge amount of exports have been lost due to lack of funds. The government is under pressure from the IMF because it is forcing to promote revenue collection activities”, he winded up this informative interview by saying.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search