Home / Knowledge / News / Textiles / PHMA urges govt to rollback 2% sales tax on textiles
PHMA urges govt to rollback 2% sales tax on textiles
06
Apr '13
The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has urged the Government to rollback the two percent sales tax imposed on the domestic textile sector, which till recently enjoyed zero-tax status, as the measure would not benefit the country’s economy.
 
Speaking at a meeting, PHMA vice chairman Syed Zia Alamdar Hussain said the decision to impose two percent sales tax was taken by the Government without taking the industry stakeholders into confidence.
 
The statutory regulatory orders (SROs) issued by the Federal Board of Revenue (FBR) are totally impractical and unviable and they would not result in increased tax collection, he added.
 
Mr. Hussain said the present caretaker Government has not initiated any steps to aid recovery of the economy, and if it remains reluctant to address the issues, it would lead to large scale redundancy.
 
Besides the levy of two percent sales tax, the meeting also discussed issues like impulsive power and gas outages.
 
Mr. Hussain said the preceding Government, which caused the textile units to endure 16 hours power outages per day, has caused irreversible damage to the domestic industry.
 
In spite of its commitment to provide five day per week gas supply during summer, the Government directed the authorities to supply gas for just three days per week, he said.
 
The PHMA members said that in view of the prevailing policies and situation, it has become difficult for entrepreneurs to survive in business in Pakistan, which is forcing entrepreneurs to consider relocating to other countries.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Top executives
Textile industry, India

The event should be organised every year

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Jay Ramrakhiani
Occasions Elegance Wear

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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