Page 20 - July-August-2017

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CEO FAKT Saleem

Khan Tanoli elected

as 1st VC of UFI

Chief Executive Officer, FAKT Exhibitions Pakistan and to increase sold space in trade fair
(Organizers of IGATEX and DPS World) Muhammad market,” he vowed.
Saleem Khan Tanoli has been elected 1st Vice-Chair
of the UFI Asia Pacific Chapter for the term of three UFI is the leading global association of the world’s
years. In a letter Kai Hattendorf- Managing tradeshow organizers and exhibition centre
Director/CEO UFI greeted Saleem Tanoli and said operators, as well as the major national and
that he is looking forward to a continuous international exhibition associations, and selected
collaboration and wished him for his future success partners of the exhibition industry.
and achievements.
UFI’s main goal is to represent, promote and
On his election, CEO FAKT Exhibitions Muhammad support the business interests of its members and
Saleem Khan Tanoli expressed his gratitude and the exhibition industry. UFI directly represents
affirmed that he will work at his best to promote around 50,000 exhibition industry employees
exhibition industry in Pakistan. “We wish to increase globally, and also works closely with its 55 national
the share of Pakistan and other countries of this and regional associations’ members. As many as
region in trade fair industry in Asia. We will work to 722 member organizations in 85 countries around
enhance indoor capacity of exhibition facilities in the world are presently signed up as members.

682 Mills closed in India

According to the announcement made by the government of India, about 682 mills closed as the June 2017
ended. Conferring to the sources, 232 mills were in Tamil Nadu, 85 in Maharashtra and 60 were in Uttar
Pradesh while about 42 such mills were in the region of Haryana.

Smriti Irani, the textile minister of India, shared the update while speaking to the Lok Sabha telling that about
1,399 textile mills were operational on 30th of June 2017 and all these are the non-small scale mills. “Under this
government, the textiles industry saw the largest amount of Foreign Direct Investment (FDI),” she added in her
discussion. Proceeding further she said that “The GST (Goods and Services Tax), as well as the labour reforms,
have been welcomed by the industry.”

While talking about the Amended Technology Up gradation Fund Scheme (ATUFS), that was launched last
year, Irani said that “there are benefits in terms of one-time capital subsidy of 15% for the garments and techni-
cal textiles segments with a cap of Rs 30 crore.”

Apart from this, there is about 10% capital subsidy for weaving, jute, silk, processing and handloom segments,
with the subsidy cap of Rs 20 crore for setting up new textile units as well as for the expansion of the existing
units with benchmarks technology.

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