Page 5 - January-February-2019
P. 5
05
Pakistan to benefit from US China trade
war; Textile sector receives funds
under PM’s export package
Pakistan is likely to be the environment for the textile sector
Editor-in-Chief beneficiary of the prolonged trade which would subsequently
Yousaf Fareed war between the US and China, as enhance external trade and earn
the country’s textile industry is foreign exchange reserves.
Editor likely to receive higher orders from
Hassan Saeed US importers. Which resulted as a Mr Iftikhar Babar, Textile and
successful edition of Heimtextil Industry Secretary said, “The
Sub-Editor 2019 where many visitors showed sector would get an additional
Ezzah Aqeel interest in Pakistani products due Rs115 billion through the package
Alexandros Ali Khan to price advantage and imposed in the next five years. For the
tariffs by USA on Chinese textile promotion of textile sector and
Advisory Board: products. textile-led exports, the government
Dr. Tanveer Hussain has rationalized the price of
Dr. Muhammad Tausif The exports in textile and clothing energy, including electricity and
group recorded a marginal growth gas, so as to help the industry
Marketing Manager of 0.06 percent during first half grow.”
Mohammad Khan fiscal year 2018-19 against the
Saeed Ahmed same period of the preceding year. ECC has exempted duties on the
As per PBS, The textile group’s import of cotton as well as reduced
Layouts exports from the country increased regulatory duty on the import of
Faizan Khan to $6.646 billion during cotton yarn from 10% to 5% from
July-December (2018-19) against the government. Also, it has
Adddress the exports worth of $6.641billion reduced the gas and electricity
C-302, City Towers last year. The products that tariffs for the export concentrated
Main Boulevard, Gulberg II contributed in positive growth in industry. These government
Lahore-Pakistan external trade include knitwear, incentives have helped bring down
bed-wear, yarn, made up articles the production cost for the textile
Phone: + 92 42 35 788 700 excluding towels and ready-made value chain.
Fax: + 92 42 35 788 700 garments.
However, during the current
Email: info@textalks.com The government is also working on financial year 2018-19, the country
Skype: textalks ensuring the early payment of is anticipated to experience a
refunds of more than Rs200 billion deficit of 3-4 million bales with
www.textalks.com to improve the exporters’ liquidity production projected at 10.738
position. The textile industry million bales against the initial
received Rs14 billion during the target of 14.37 million bales. In July
first seven months of the current 2018, the caretaker administration
fiscal year under the prime had slapped high duties and taxes
minister’s exports enhancement of up to 10% including 3% customs
package. It is among the top duty, 2% additional duty and 5%
priorities of the government to sales tax which contributed to a
create a conducive business sharp plunge in cotton imports.
January/February 2019 January/February 2019
