Textile sector to get additional benefits in next budget, Cheema - Textile Minister

28 May '05

2 min read

Addressing 12th meeting of federal textile board held in Islamabad, Mushtaq Ali Cheema, Federal Minister for Textile Industries stated that additional incentives will be provided to textile industry in the coming budget, for this Ministry of textile Industry has presented a proposal to the Prime Minister for endorsement from the cabinet. Syed Masood Alam Rizvi, Federal secretary for textile ministry also participated in the meeting with the legislative body of concerned ministers and different textile associations. Cheema explained that it was recommended proposal to remove sale tax from supply of goods and service for export oriented industries, as sale tax reimbursement procedure is not appropriate for the sector, textile industry accounts over 67% in export. Tariffs allied to textile industry will be reduced in the up coming budget, while tariff on textile machinery has already been removed and duty on spare parts will also been minimized. The government wants to uphold textile industry, as it is purely related to private sector and playing important role in the country's economy, he added. Cheema informed that the government wishes to encourage value-addition in textile exports to boost its export capacity. It is also considering other sectors of textile, as controlled development of all sub sectors of textile is important to enhance textile industry. The permission has already been given to industrial sector specially textile sector for power generations for the

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