Home / Knowledge / News / Textiles / APTMA welcomes restoration of duty-free textile machinery imports
APTMA welcomes restoration of duty-free textile machinery imports
04
Aug '11
All Pakistan Textile Mills Association (APTMA) Chairman Gohar Ejaz has welcomed the decision of the Ministry of Finance and Federal Board of Revenue (FBR) to reinstate the duty-free regime for import of textile machinery.

The APTMA Chairman hoped that the move would help the textile sector to draw fresh investments.

Mr. Ejaz said that the optimism showed by the Government in comprehending the industry's viewpoint on duty-free import of textile machinery is very much appreciable.

He added that the decision would give rise to a win-win situation for the industry as well as the Government.

The Government had on March 15, 2011 ended the exemption that was available on sales tax on imported machinery. This was done under the apprehension that the facility was being misused by commercial importers.

Subsequently, APTMA approached the relevant authority in this regard and contended that ending of exemption for sales tax on machinery imports would just transpire as a move influencing the liquidity of the investors, while not bringing any revenue benefit to the country's exchequer.

After agreeing to APTMA's viewpoint, FBR Chairman instructed the concerned authority to reinstate the duty-free regime for the import of textile machinery.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

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

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

news category


Related Categories:
March 2017

March 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