The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and Sialkot Chamber of Commerce and Industry (SCCI) have respected the steps taken by Pakistan Government to reinstate the zero-rating facility that will help the exporters to deal with the liquidity crisis, effectively. The government of Pakistan has given the approval to the federal budget of 2017-18.
The president of PREGMA and SCCI, while addressing the media, said that; “the continuity of the zero-rated sales tax policy is a boost to export-oriented garments, sports goods, surgical and leather industries.” It was also requested to the government to look at the distribution of special development fund to enhance the value added aspect of the textile and garment industry in Pakistan.
While speaking on the occasion, the exporters also forced the government to implement the policies by the end of August, this year. Further, it was said that the continuity of the zero-rating facility will enhance the export business in Pakistan and will help to control the corruption. Four new measures were also announced in the federal budget 2017-18 for the development and growth of the textile sector in Pakistan. It includes stabilisation of cotton prices in the country, the launch of Brand Development Fund for the textile sector, launch of first ever online textile business/trade portal for textiles and establishment of 1,000 stitching units.