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FCCI demands new textile policy in Pakistan

Nov '19
Pic: Shutterstock
Pic: Shutterstock
Faisalabad Chamber of Commerce and Industry (FCCI) senior vice president Zafar Iqbal Sarwar recently urged the Pakistani government to announce a new textile policy for 2019-24 with primary focus on value-added goods export. Improving the global ranking in the ease of doing business and reducing the cost of business should be the emphasis, he said.

He proposed a single-window operation for registration, incorporation, employee old age benefits, social security, taxation and fee collection, and demanded levy of uniform energy charges across the country in addition to the settlement of gas infrastructure development cess (GIDC) issue and payables.

To stop the misuse of subsidised energy and the duty and tax remission for export (DTRE) scheme, the government must take appropriate steps in consultation with the real stakeholders, Pakistani media reports quoted him as saying.

He said that efforts must be expedited to increase cotton production by improving the product mix. He urged the government to provide a subsidised credit facility, enhance audit limits, offer mark-up support and incentives so that textile exporters can invest in value addition.

He proposed the constitution of dispute resolution committees consisting of representatives of the Federal Board of Revenue (FBR), trade bodies and the Institute of Chartered Accountants of Pakistan (ICAP).

The government should encourage joint ventures and investment for the manufacturing of textile machinery and production of various inputs used by allied industries in Pakistan subject to the economic viability, he added.

Fibre2Fashion News Desk (DS)

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December 2019

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