Home / Knowledge / News / Textiles / Egyptian govt to introduce steps to protect textile industry

Egyptian govt to introduce steps to protect textile industry

21
Nov '11
The Government of Egypt will soon introduce steps to protect its local textile industry. For the purpose, the Customs Duty Authority will meet this week and consider revision of taxes and duties on textile goods, the authority's Director Ahmed Seoudy has announced.

The Union of Industries and the Ministry of Industry had urged the Finance Ministry to introduce measures to safeguard the domestic industry.

Mr. Seoudy listed some such measures which include revising the volumes of imported fabrics, which have been exempted from customs for the time being, to bring them in lines with the actual needs of the units.

He also recommended curtailing the grace period for re-selling the fabrics before they become liable to customs duty, from two to one year.

He stated that all transactions relating to raw inputs required for production would be closely monitored to avert these goods from entering the black market.

Further, he revealed that no rise in duties would be announced beforehand, in order to preclude the dealers from stockpiling the commodities for selling the same at higher prices in future.

Fibre2fashion News Desk - India


Interviews View All

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search