Pak­istan: Gov­ern­ment gives high pri­or­ity to value-added tex­tile ex­port sec­tor

Stitch World - - NEWS TRACK -

The Pak­istan Gov­ern­ment is giv­ing high pri­or­ity to the value-added tex­tile ex­port in­dus­try. Muham­mad Zahid Khokhar, Fed­eral Board of Rev­enue Mem­ber Cus­toms, said this when he re­cently vis­ited Pak­istan Hosiery Man­u­fac­tur­ers & Ex­porters As­so­ci­a­tion (PHMA).

Dur­ing his visit to PHMA, Zahid Khokhar met all the lead­ing ex­porters of Pak­istan be­sides meet­ing the of­fice-bear­ers of PHMA.

He said that in or­der to pro­mote value ad­di­tion and ex­ports, the reg­u­la­tory duty on the im­port of yarn and other raw ma­te­ri­als has been sig­nif­i­cantly de­creased.

Zahid Khokhar, how­ever, added that it was in­ap­pro­pri­ate to re­duce the reg­u­la­tory duty on 570 prod­ucts to con­trol the im­port of prod­ucts.

He also said that the reg­u­la­tory duty has been re­vised only on 90 items whereas the same has been in­creased on 100 lux­ury items. Fur­ther, re­bate will also be paid with the ex­port pro­ceeds elec­tron­i­cally in or­der to fa­cil­i­tate the ex­porters.

Zahid Khokhar said that the Gov­ern­ment of Pak­istan was in need of for­eign ex­change and there­fore tex­tile ex­ports held so much rel­e­vance. Pak­istan’s tex­tile ex­ports con­sti­tute a ma­jor por­tion of the coun­try’s over­all ex­ports. Mem­ber Cus­toms urged to sim­plify Duty & Tax Re­mis­sion for Ex­ports (DTRE) and also added that the process of val­i­dat­ing the li­censes – for ex­port-ori­ented units and man­u­fac­tur­ing bonds – shall be soon au­to­mated. Zahid Khokhar fur­ther said that the au­dit will also be done au­to­mat­i­cally by the sys­tem.

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