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Appreciating Taka favours home textile exporters – Textile Advisor
07 Apr '09
2 min read
Appreciation of the Bangladeshi taka is helping manufacturers of home textiles in Pakistan, since the last two weeks, they have now started received orders from their overseas buyers. This was revealed by the Advisor to the Textiles Ministry, Dr Baig.
He said, on the other hand the Pakistani rupee had depreciated considerably, making exports from Pakistan cheaper vis-à-vis other countries like Bangladesh, which had snatched away orders from Pakistani home textile exporters.
He added, “The textile Ministry has recommended to the government to declare the textile sector as duty, tax and levy free industry in the true sense in the forthcoming budget to be presented in mid-2009, which will help boost textile exports from the country.
He continued by saying that, “The sector was paying as many as 17 types of different taxes and levies, which was impeding the growth of the sector and along with that we have also suggested zero duty on textile machinery and spare parts imports too”.
He said, “The textile policy will be announced in the next month which will be comprehensive and address all the issues affecting the textile industry and also carry incentives which will help enhance the capability of the sector along with boosting exports”.
Speaking about the global consultants appointed to advise the sector, he said, a French consultancy has already visited the country and has also identified twelve leading brands from the country and will set up outlets in three countries to showcase these brands.
He said, on the other hand the Pakistani rupee had depreciated considerably, making exports from Pakistan cheaper vis-à-vis other countries like Bangladesh, which had snatched away orders from Pakistani home textile exporters.
He added, “The textile Ministry has recommended to the government to declare the textile sector as duty, tax and levy free industry in the true sense in the forthcoming budget to be presented in mid-2009, which will help boost textile exports from the country.
He continued by saying that, “The sector was paying as many as 17 types of different taxes and levies, which was impeding the growth of the sector and along with that we have also suggested zero duty on textile machinery and spare parts imports too”.
He said, “The textile policy will be announced in the next month which will be comprehensive and address all the issues affecting the textile industry and also carry incentives which will help enhance the capability of the sector along with boosting exports”.
Speaking about the global consultants appointed to advise the sector, he said, a French consultancy has already visited the country and has also identified twelve leading brands from the country and will set up outlets in three countries to showcase these brands.
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