Home / Knowledge / News / Textiles / RGST to reduce govt's reliance on loans
RGST to reduce govt's reliance on loans
Jan '11
Senator Gul Muhammad Lot, Chairman of the Standing Committee of Senate on Textile, recently in a statement said that, implementation of the Reformed General Sales Tax (RGST) would help the textile sector to reap enough gains so as to help the government to reduce its reliance on loans from the State Bank of Pakistan and also from the overseas countries.

He revealed that, Pakistan is obliged to pay $13 billion to the International Monetary Fund (IMF) which it had borrowed from the global body and also needs to pay a mark up of $800 million for the same by June, 2011. It would be disastrous if the RGST is not properly implemented, he added.

The government each day needs to borrow two billion rupees from the State Bank of Pakistan, which is continuously expanding the deficit. As more funds of the central bank go to the government, lesser funds are left to the avail of the private banks and the private sector businesses and this boosts up the mark-up rates, the Senator said.

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Textiles | On 23rd Jan 2017

MagnaColours develops new sustainability standard

MagnaColours, manufacturer of printing inks and ink bases, discharge...

Interviews View All

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner

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

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

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search