Broad incentives outlined for textiles in the forthcoming budget by Textiles Minister Cheema

30 May '05

1 min read

In order to promote textiles industry, the Government has been recommended to offer more incentives in the forth coming budget, Textile Minister Mustaq Ali Cheema said.

He announced this at the meeting of the Federal Board of Textiles saying that a comprehensive proposal has been submitted to the Prime Minister for approval from the cabinet.

The meeting was attended by Federal secretary for textile ministry, Syed Masood Alam Rizvi besides representatives of concerned ministries and industry captains.

The incentives recommended were withdrawal of sales tax from textile sector on supply of goods and service for export oriented industries, reduction in tariffs to the minimum, zero tariff on textile machinery and duty on textile spare parts to be cut.

Besides promotion of value addition in textile exports to enhance its export volume, focus on surplus raw material exports, and committment to solve power loom sector and cotton production sector problem have also been suggested.

Even, availability of yarn to the power loom sector will be added by secretary textile, he said.

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