Page 14 - February-March-2017

Sustainability with innovation

is what Chinese textile

industry looking for

Chinese textile industry is striving to operate more of the Chinese textile industry and last is working of
sustainability and less environmental foot prints in china as a major party to promote the environmental
coming 10 years, said was so by Mr Sun Ruizhe, progress of the global textile supply chain.
president of CNTAC, the China National Textile &
Apparel Council, China. The textile sector of china is In accordance with the laws and policies of the state,
using innovation to move ahead with the production the local government has successfully taken many
of higher value added products as well as technical initiatives in order to promote the local textile industry,
textile. Expected is that the attitude will drive its transformation and up gradation. A number of
environmental improvement of the industries were ordered to stop production for
textile industry. consolidation and industrial parks were built to enhance
the concentrated manufacturing, energy conservation,
Ruizhe also said that the innovation driven pollution control, and emission reduction.
sustainable development is the next the biggest step
for environmental progress in China's textile sector. Not only the state laws but different local
Innovation-driven sustainable development includes governments have also established provincial rules
three aspects. The first one is the conservation of and their individual industrial standards to promote
energy, the reduction of emission and that of the and deal successfully with green manufacturing. The
environmental compliance as the basic duties for local governments have been paying more and more
enterprises in the manufacturing process. Secondly, attention to environmental management and help to
green manufacturing and green products have been create better-performing, sustainable textiles that are
the main trends in the transformation and upgrading tender on the globe.

Tax exemption for companies investing in SEZs

“Investors and industries setup in the Special ment of Bangladesh takes only 60 days in allowing
Economic Zones would be exempted from the tax” an investor to set up an industry with all utility
said Dr. Miftah Ismail-Minister of State and Chairman connections and other procedures, but in Pakistan
Board of Investment. While addressing the business the same process requires 180 days. By pointing out
community at the regional office of Federal of the matter he addressed the need to look over the
Pakistan Chamber of Commerce and Industry, he issue and reduce this time period to attract local as
added that, “the government was also reviewing well as foreign investors, which needs to be reduced
relaxations given to China under the Pak-China Free to attract foreign and local investments. Mr Ismail
Trade Agreement as exports to Beijing are a mere $2 added the Cambodian government has assured
billion against imports of $18bn.” Pakistani investors of clearing necessary procedures
within 48 hours.
Further it was said that the BoI has recently conveyed
to the federal government that provinces must not At the same time, talking about China he said that
charge two taxes from investors. In the upcoming the China Pakistan Economic Corridor is an econom-
budget, the government will consider reducing ic game changer. He also said that $34bn have been
number of taxes, he added. Investors who want to earmarked for power plants out of $52bn investment.
set up textile units before June 2020 would be given Five power plants being installed in Punjab on the
special concession in taxes, he said. same terms and conditions which were allowed by
Benazir Bhutto in 1994 and by Musharraf in 2002, he
While addressing the attendees he said that govern- added.