Home / Knowledge / News / Textiles / BoI assures Turkish delegation about investment prospects in Pak
BoI assures Turkish delegation about investment prospects in Pak
16
Dec '10
In order to explore prospects for investment, predominantly in textile as well as agricultural sector, a 5-member Turkish delegation has paid a visit to the Board of Investment (BoI) last week. The delegation reflected keen interest in areas of textile and agriculture.

BoI has given an assurance to the members of the delegation with regard to information exchange about investment, various policies associated with investment, apart from discerning avenues of improved economic and commercial ventures between Pakistan and Turkey and the possibility of joint investments.

Humayun Sikandari – Executive Director General of BoI provided an in-depth insight on investment policy, incentive schemes, Special Economic Zones and the remarkable prospects existing in textile, agriculture and energy sectors.

He also gave information about the recent investment data from July-Sep 2010, which is $1.3 million. He also expressed his optimism for an enormous enhancement in investments following the recent visit of the Pakistani Prime Minister and the Chairman of BoI, Saleem H. Mandviwalla to Turkey.

He revealed that textile has been a major contributor in Pakistan's exports over the past 50 years and has undergone an investment of US $7.5 billion during the last decade. He even pointed out that Pakistan is the 4th biggest cotton producer and 3rd biggest cotton consumer in the world.

Speaking about the incentives extended to the investors, he said that Pakistan grows globally renowned raw cotton and there are exclusive textile and garment cities.

There has been a significant cutback in import duty to 5 percent on textile machinery and components. Research and Development (R&D) support has been enhanced by 6 percent, revenue tax has been cut to 1 percent and sales tax has been curtailed to 2 percent.

Land is also available at various garment cities of Pakistan such as Faisalabad Garment City, Lahore Garment City and Karachi Garment City for constructing industries such as textile industries, garment factories, ginning units, light engineering plants, powerlooms and carpet industry.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Arvind Saraf
Triveni Sarees

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

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Eric Scholler
Groz-Beckert

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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