Home / Knowledge / News / Textiles / Cut in turnover tax to benefit textile sector: PRGMEA
Cut in turnover tax to benefit textile sector: PRGMEA
06
Jun '12
The reduction in turnover tax, announced by the Government of Pakistan through Federal Budget for the financial year beginning July 1, 2013, would benefit the country's textile and garment sector.

Commenting on the Budget, Mr. Shehzad Salim, Chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) told exclusively to fibre2fashion, “For the textile industry, the turnover tax has been reduced from the current 1 percent flat to 0.5 percent, which is bound to benefit the sector.”

The Budget proposes to reduce the sales tax as well as decrease the excise slab from the present 12 percent to 5 percent. “So, there is some relief to the common man in terms of taxation, which is positive and good,” avers Mr. Salim.

“Overall, it looks like a plain vanilla budget with no major changes or policy shifts. However, there is a lot of clarity that needs to come through in the Budget, which we hope to get in the coming days,” he opines.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Johan Berlin
InvestKonsult Sweden AB

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

Ashok Desai
Bombay Textile Research Association

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
February 2017

February 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