Home / Knowledge / News / Textiles / Egyptian govt to introduce steps to protect textile industry
Egyptian govt to introduce steps to protect textile industry
21
Nov '11
The Government of Egypt will soon introduce steps to protect its local textile industry. For the purpose, the Customs Duty Authority will meet this week and consider revision of taxes and duties on textile goods, the authority's Director Ahmed Seoudy has announced.

The Union of Industries and the Ministry of Industry had urged the Finance Ministry to introduce measures to safeguard the domestic industry.

Mr. Seoudy listed some such measures which include revising the volumes of imported fabrics, which have been exempted from customs for the time being, to bring them in lines with the actual needs of the units.

He also recommended curtailing the grace period for re-selling the fabrics before they become liable to customs duty, from two to one year.

He stated that all transactions relating to raw inputs required for production would be closely monitored to avert these goods from entering the black market.

Further, he revealed that no rise in duties would be announced beforehand, in order to preclude the dealers from stockpiling the commodities for selling the same at higher prices in future.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

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

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:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search