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Ministry of Textiles forms committee for zero-rated tax regime

10
Feb '07
A five-member committee for preparing detail plan for implementing zero-rated tax regime was recently constituted by Ministry of Textiles.

With implementation of such a regime, cost of doing business and depression in textile exports will significantly decrease.

Committee will submit its report to Tariq Saeed Saigol, head of the sub-committee constituted by the National Textile Strategic Committee.

According to sources, Textile Commissioner Idrees Ahmed Khan will be secretary of the committee and other members will be Naqi Bari from the knitwear and woven sector, Dr Ikhtiar Baig from the denim sector, Muzzamil Hussain from the towel sector, Bashir Ali Mohammad and Zahid Aslam from the bedwear and processing fabrics sector and Chairman All Pakistan Textile Mills Association Shafqat Elahi Shaikh representing grey fabrics and grey yarn.

However, participants of ministerial committee meeting, held on February 8, 2007, denied about formation of any such committee.


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