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Budget disappoints bedwear exporters

15
Jun '07
Shabir Ahmed, Chairman, Pakistan Bedwear Exporters Association
Federal Budget 2007-2008 is out and it has disappointed bed wear industry in Pakistan.

With a chip on his shoulder, Shabir Ahmed, Chairman, Pakistan Bedwear Exporters Association (PBEA), informed Fibre2fashion, that budget is not in favor of the industrialist as before, if any one exports yarn, which is a raw matrial for bedwear, the income tax deduction was 1.5 percent from export proceeds so now in this budget it has been reduced to 1 percent and for fabric, it was 1.25 percent and this has also been reduced to 1 percent. Hence for Bedwear and other madeups it has remain the same at 1%

This would definately affect the Pakistan economy as Govenment has treated the raw matrial and finished product the same rate of Income Tax of 1 percent as least people will be interested to produce finished products. So no value addition and no employment.

In the budget the Government has imposed 1 percent import surcharge on all imports, be it chemicals, machine, screen etc.

Fibre2fashion News Desk - India


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