Home / Knowledge / News / Textiles / PTEA seeks govt support to fully benefit from GSP Plus
PTEA seeks govt support to fully benefit from GSP Plus
07
Jan '14
Pakistan Textile Exporters Association (PTEA), an apex body of textile exporters in the country, has sought government support to help textile exporters fully benefit from the Generalized System of Preference (GSP) Plus facility extended to the country by the European Union.
 
The Association has urged the Government to initiate steps to ensure early release of huge sums of textile exporters of the country, which are blocked in refund regime.
 
During a media briefing, PTEA Chairman Sheikh Ilyas Mahmood and Vice Chairman Adil Tahir noted that liquidity crisis is a major roadblock which over the years has proved detrimental to the country’s textile industry and has negatively impacted its production and productivity.
 
Duty waiver benefit under the Generalized System of Preference (GSP) Plus facility is expected to significantly boost textile exports from the country, however, the industry would not be able to fully exploit the opportunity with insufficient funds, they added.
 
While levy of two percent sales tax on supplies are impacting business activities, zero rating is a key for remaining globally competitive, the PTEA officials said adding that hardly 15 percent of textile items produced in Pakistan are consumed domestically, with the rest being exported. 
 
Mr. Mahmood assured that the industry would deploy all efforts to reap the benefits of the GSP facility, but added that it would depend to a large extent on the Government ensuring release of refund claims, continuous gas and power supply and duty waivers.
 
Calling on the Government to reinstate duty waiver facility for the textile industry, he said finance is the key to keep the business running and it would not be possible for the industry or the economy to benefit from the GSP Plus facility without this.
 
GSP would also help in re-attracting the investments that Pakistani textile industry has lost to other nations already availing the facility, he added.
 

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Ashok Desai
Bombay Textile Research Association

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

Lynda Kelly
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Bani Batra

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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