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
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

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson

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...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


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