Up-coming budget to decide the destiny of textile industry

03 Jun '08

4 min read

Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA) has also suggested reduction in cost of inputs, rationalizing anomalies in various policies, encouraging investment and providing greater incentives for exporters.

According to Mr Asif Rahim, Secretary, PLGMEA, “Presently most of inputs for Leather Garments industry are exempt from Sales Tax and import duties but there are several anomalies within various laws which create hassles for exporters leading to low utilization of these schemes. Federal Board of Revenue has so many conflicting proposals that it would be very optimistic to expect high degree of acceptance of our proposals.

“Our more stress is on Trade Policy which is announced in July. We are hoping that the coming trade policy will accommodate most of our suggestion for boosting the exports of Leather Garments from Pakistan.”

Federation of Pakistan Chamber of Commerce and Industry (FPCCI) proposed that import of all raw materials should be allowed on duty free basis while higher duties should be imposed on luxury items.

FPCCI also demanded to reduce utility rates by 25 percent for export-oriented industries, reduction in the burden of taxes to compensate increase in POL prices, reduction in cost of industrial raw materials for value added industries through zero-rating of all federal provincial taxes.

Pakistan Readymade Garments Manufacturers Association (PRGMA) has presented its proposals for Federal Budget 2008 – 2009, when newly elected government is planning its future policies.

More Textiles News - Pakistan...