It is expected that by the next fiscal year, there will be an increment of billion in Pakistan’s textile exports.
The basis of this prediction is the continuous reduction in tax duties on raw materials.
In the past 2 years, ample support has been provided to the various export sectors including textiles. This continuous relief was provided in the form of reduction in Tax custom duties on raw materials and reduction of 2,000 tariff lines to zero.
Due to this newly found ease, textile export can hit a new target of an increment of $4-5 billion by next year. All these details were provided by chairperson of National Tariff Commission (NTC), Robina Ather.
According to the FBR executives, all small and medium enterprises (SMEs) fall under two categories.
Category One has a turnover of Rs 100 million while Category Two has a turnover of Rs 250 million. However, the current turnover has been objected by Senator Saleem Mandviwalla Senator Saleem Mandviwalla. The committee members on a collective level agree that the turnover of 250 million dollars 14 years ago should increase now.
Therefore, it was advised by the committee to add an inflation of 400 million for SMEs.
