Home / Knowledge / News / Textiles / APTMA unhappy over tax hike in Budget 2013-14
APTMA unhappy over tax hike in Budget 2013-14
Jun '13
All Pakistan Textile Mills Association (APTMA) has expressed concern over the 2 percent hike in tax introduced in the Budget for fiscal year 2013-14, which may lead to increase in the cost of production for the textile industry of the country. 
Anisul Haq, spokesperson of APTMA, said the 2013-14 Budget announced by Finance Minister Ishaq Dar includes a 2 percent hike in tax on supplies to textile firms that are unregistered with the Government. The measures announced in the Budget will lead to fake registrations and invoices, he added.
As per its pre-Budget discussions, the FBR was planning to eliminate the difference in tax amount between supplies to registered and unregistered textile firms. But, the announced Budget plan does not follow the same.
The APTMA spokesperson said the Pakistani textile industry is already bearing a loss of about 50 percent in its production capacity due to shortage in gas and electricity supply, and the new tax measures will further add to its worries.
He further said the allowance for initial depreciation for plant and machinery in the Pakistani textile industry has reduced from 50 percent to 25 percent, which may cut down investments in the industry, necessary for economic growth in Pakistan.
The Budget for 2013-14 also has provision for legal support to the Center for Research on Economic and Social Transformation (CREST) for verification of input tax of the textile industry supply chain in Pakistan.

Fibre2fashion News Desk - India

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

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

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search