Home / Knowledge / News / Textiles / Revenue board urged not to bring zero rated sectors under RGST
Revenue board urged not to bring zero rated sectors under RGST
14
Dec '10
Rana Muhammad Farooq Saeed Khan – the Federal Minister for Textile Industry, said in support of the apprehensions of the business community that the implementation of the RGST would adversely impact the industrial sector as a whole and would also cause its products to lose their competitiveness in the global market.

Further, the Federal Minister for Textile Industry revealed that, he has directed the Federal Board of Revenues (FBR) and the Finance Minister not to make any efforts to bring the zero rated sectors within the purview of the Reformed General Sales Tax (RGST).

He stated that he has asked the two authorities to grant some time so that he can get in touch with the stakeholders of the RGST to learn about their views in this regard. Once meetings are convened with these stakeholders, he would then update the Finance Minister about their view point.

While speaking on the tax refund issue, he said that as per the textile policy, the government has already sanctioned a sum of Rs 7.5 billion which has been deposited with the State Bank of Pakistan. He gave an assurance to the business community regarding release of their accumulated tax refunds within next 10 to 15 days.

Energy crisis in Karachi and gas scarcity in Punjab, by and large comes in the way of smooth functioning of the industrial sector and textile sector, in particular, he said while talking about the performance of the textile industry. He also added that, if these issues can be sorted out it would enable the country to compete both with India as well as China and its textile exports would exceed $20 billion.

He also informed that the government is trying to import the finest quality of cotton seeds with an intention of having abundant supply in 2011.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

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

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Tony Ward
Tony Ward

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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

August 2017

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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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