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Pakistan's FM announces Textiles Package in Budget 2014-15
04 Jun '14
3 min read
To meet the skilled manpower needs in the textile sector, a new vocational training program will be launched to train 120,000 men and women, over the five year period. Under this, skills required in the textile sector, especially in the value added sector such as garments and made ups, will be imparted. A budget of Pk Rs. 4.4 billion has been proposed for the scheme, under which people attending the 3 months training program would be given a stipend of Rs. 8,000 per month. The scheme is proposed to be run through Technical Education and Vocational Training Authority (TEVTA) institutes and the textile industry.
However, import of finished textiles and carpets would be charged at standard sales tax rate, instead of the earlier concessionary rates of sales tax under SRO 1125(I)/2011, as these are meant for local consumption by affluent classes and do not contribute to exports, the Finance Minister said.
Fibre2fashion News Desk - India
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