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APBUMA asks govt to use EDF for upgrading textile sector
06 Apr '12
1 min read
All Pakistan Bedsheet & Upholstery Manufacturers Association (APBUMA) has claimed that of the Pk Rs. 13 billion collected by the Federal Government from the textile sector of the country by way of Export Development Fund (EDF), only Pk Rs. 3 billion has been used for betterment of the industry.
Stating this, APBUMA Chairman Syed Muhammad Aasim Shah demanded that the Government should earmark the remaining Pk Rs. 10 billion for upgradation of the value-added textile industry and help it acquire state-of-the-art technology and hire skilled manpower.
Speaking at a meeting held to discuss the 2012-13 national budget and trade policy proposals, Mr. Aasim Shah said the textile industry should be given total tax exemption.
He suggested that the Government should do away with withholding tax on a sum above Pk Rs. 25,000.
The APBUMA Chairman also asked the Government to impose agriculture income tax on cotton related industries.
Stating this, APBUMA Chairman Syed Muhammad Aasim Shah demanded that the Government should earmark the remaining Pk Rs. 10 billion for upgradation of the value-added textile industry and help it acquire state-of-the-art technology and hire skilled manpower.
Speaking at a meeting held to discuss the 2012-13 national budget and trade policy proposals, Mr. Aasim Shah said the textile industry should be given total tax exemption.
He suggested that the Government should do away with withholding tax on a sum above Pk Rs. 25,000.
The APBUMA Chairman also asked the Government to impose agriculture income tax on cotton related industries.
Fibre2fashion News Desk - India
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