Home / Knowledge / News / Textiles / RGST undesirable for business promotion in Pakistan
RGST undesirable for business promotion in Pakistan
27
Nov '10
Syed Fahim Mehmood Shah, Chairman, Pakistan Yarn Merchants Association (PYMA), recently stated that, the Reformed General Sales Tax (RGST) was undesirable and dangerous for business promotion. He added that, if the government tries to impose this unjustifiable tax irrationally, the entire trading community of the nation would firmly oppose and challenge its imposition.

Shah said that implementation of the Reformed General Sales Tax, being a controversial issue, should be delayed till the country's dwindling economy recovers and the bank's mark-up rate and the inflation rate are successfully lowered to 7-8 percent.

He revealed that, unplanned and extended load shedding and gas supply cuts have caused several industrial units, particularly the textile processing and finishing units in the country to shut down, while rendering lakhs of people unemployed.

At a time when mounting prices of consumer products are worrying people, if the RGST is implemented, it would further add to the difficulties of the people and worsen the situation, he said.

He urged the Punjab Government Assembly to not allow the imposition of RGST. He welcomed the stand of MQM leader, Altaf Hussain and Parliamentary leader Farooq Sattar to firmly oppose the enforcement of RGST.

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

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Apurva Kothari

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

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sanjukta Dutta
Sanjukta's Studio

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

Robert Brunner
Devereux

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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