Page 12 - November-December-2018

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Textile value addition

Govt. taking steps to make

industry competitive TEXTILE MACHINERY

The government is taking all necessary government should announce a clear policy to
measurements to add vibrant competence value to release all the pending refund of exporter’s claims
our textile industry in the international market. & old duty drawbacks for the period of 2009-2012
Chairman of PRGMEA pointed out, for favorable as they were pending since so long. The PRGMEA
balance of payment and trade ministry should leadership said different government agencies
discourage the export of raw material & encourage were harassing the industry that all other
shipment of value added goods as per State Bank mandatory taxes should be merged. The value
of Pakistan the authorized textile export dealers in added garment sector grew 11.22% in 2017-2018
making advance payments for imports against despite having internal & external challenges.
irrecoverable letters of credit L/C for up to 100% of
the value of the goods and up-to $10,000 per This sector is a major taxpayer & the largest
invoice for the import of all eligible items without employment generator in the entire textile chain &
the requirement of L/C and bank guarantee from
the supplier abroad. exports of $5.5 billion. Owing to what he called
right polices of the government, the economy of
He asked that the government to announce duty the country would improve in the months to come
100% drawback without the condition of increase in as exports were getting better, he said adding
exports with simple procedure and paperless work. value added- textile products could earn plenty of
Twice
Expressing concern over the cash flow crunch the foreign exchange for the country.

FBR considering to develop mobile the power!

app for filing online returns A tumbler that never ceases to amaze,
now even with twice the capacity.

The Federal Board of Revenue (FBR) is considering to develop a mobile app for filing of online returns with
greater convenience as part of its innovative strategy to increase tax base. The Board, besides taking
numerous steps to achieve the objective, would also ensure integration of databases like National
Database and Registration Authority (NADRA), Provincial Revenue Authorities, Excise and Taxation
Departments, Utility Companies and Land Registering Authorities with that of FBR.
Barcelona, 20-26 june 2019
Under the innovative strategy, the FBR would also focus on mapping big businesses and services. This H1 A208
would be done in a way that a 360 degree view of economic profile of a taxpayer/non-taxpayer is
developed. Listing other measures adopted under innovative strategy, the FBR would focus on Mapping BIANCALANI srl via Menichetti, 28 59100 Prato Italia ph +39 0574.54871
Big Businesses & Services (MBBS). The focus would be on four big and flourishing businesses including contacts@biancalani.com www.biancalani.com
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