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Textile sector demands tax cuts in utility costs

15
Feb '07
Government revealed recently that textile industry package may include tax cuts that will aid the struggling sector to compete on a global scale.

No details were given as to how and where these cuts will be implemented.

However, it has been reported that the textile players have been lobbying for tax reliefs in utility costs that have limited their competitiveness against Asian giants like China, India and Bangladesh.

Textiles accounted for about 60 percent of Pakistan's exports in 2005-2006, and contribute 8.5 percent to its gross domestic product (GDP).


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