Home / Knowledge / News / Textiles / 'Pak textile exports hit by liquidity crunch'
'Pak textile exports hit by liquidity crunch'
18
Mar '16
A liquidity crunch is badly hitting Pakistan's textile exports, Chairman of All Pakistan Textile Mills Association (APTMA) Tariq Saud has said.

According to Saud large manufacturers cum exporters are reeling under a liquidity crunch due to the pending sales tax refunds. Consequently, the manufacturing of exportable goods is being compromised heavily, he said.

He said the Ministry of Finance has announced liquidation of refunds up to Rs 5 million in cases where the Refund Payment Orders have been issued from March 15 to 30.

"This is a positive development and the textile industry is grateful to the Federal Finance Minister Ishaq Dar," he added.

But Saud insisted that it will not resolve the liquidity issues of major manufacturers cum exporters, each of whom has refunds outstanding up to Rs 500 million.

He has urged the Finance Minister and the Federal Board of Revenue (FBR) Chairman to make arrangements for clearance of those refunds. It would help them book and process export orders and take the industry out of a sluggish mode, he said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search