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Pakistan to abolish VAT on textiles
Mar '16
Pakistani Commerce Minister Khurram Dastagir Khan, has said that in order to encourage the textile sector, the value added tax (VAT) would become zero from July 1, 2016.

The minister's comments came during an interaction with reporters after inaugurating the 15th Textile Asia 2016 Exhibition in Karachi recently.

He also that the export of Pakistani readymade garments has increased in the international market and so have the prices due to quality products substantiated with value addition in the products.

Khurram Dastagir said Pakistan's biggest textile and garment machinery trade fair, Textile Asia would be beneficial for the local textile industry and would enhance the country's exports.

He said that the display of the modern machinery will also benefit the textile sector and those associated with the industry would also be able to boost their capacity.

The exhibition was jointly organized by the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and Ecommerce Gateway Pakistan.

More than 550 international brands displayed their products in the exhibition. (SH)

Fibre2Fashion News Desk – India

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