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'Imports of textile machinery should be zero-rated' – Mr Balwani
06
Apr '11
“We demand a complete roll-back on the 17 percent sales tax imposed on import of textile machinery, equipments and spares”, said, Mr Javed Balwani, Chief Coordinator - Pakistan Hosiery Manufacturers Association and Convener - Council of All Pakistan Textile Association (CAPTA).

Mr Balwani was reacting to the imposition of 17 percent sales tax by the Pakistani government on imports of textile machinery, spares and equipment.

In a recent notification, the government restricted zero-rating sales tax measure on five export sectors; textile, leather, surgical, sports and carpets to only registered manufacturer-exporters or only exporters.

He was of the opinion that imports of machinery should be zero-rated as was done earlier, with the main benefit being that, cost of doing business falls.

Fibre2fashion News Desk - India

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