Page 5 - TEXtalks May-June 2021

05

Budget 2021-2022: If a good step in the
right direction? World Environment Day,
Editor-in-Chief
Yousaf Fareed ITMA Asia + CITME

Editor The Budget 2021-2022, 3rd of the economy, utilizes a colossal
Hassan Saeed current government, has been amount of natural resources. The
announced, and it was expected to pollution is increasing day by day,
Sub-Editor be a pro-industry budget by the and it is critical to building the
Dr Sharjeel Abid business community. The new institutional capacity of the health
sector (at provincial, district, and
budget was being awaited much
Noor Amjad by the textile sector due to local levels) concerning
Qudsia Rahim favorable economic indicators environmental hazards to reinforce
Dr Shagufta Riaz during the last six months. For surveillance, early detection, and
example, economic growth was response in the areas of infectious
Advisory Board: based on 3.57% industrial growth. diseases, nutrition, respiratory
Dr. Tanveer Hussain With an increment of Rs. 700 billion diseases, water, and food safety.
Dr. Muhammad Tausif compared to the previous budget, According to WHO Global Health
the total value of the current budget Observatory, about 200 deaths per
Marketing Executives is Rs 8.49 trillion with a GDP of 4.8%. 100,000 population are attributable
Memona Karim However, the expectations have not to environmental factors in
Memona Irum been fulfilled regarding the textile Pakistan. The World Bank
sector’s aspirations. estimates that Pakistan's annual
burden of disease due to outdoor
Layouts The industrial sector has been one air pollution accounts for 22,000
Faizan Khan of the focuses of the government. premature adult deaths.
A relief of Rs 119bn has been
Legal Affairs provided regarding customs duty, The seventh ITMA ASIA + CITME
Khalid Bukhari income tax, and sales tax for 2020 was a combined show
Advocate Supreme Court industries in the current budget. owned by CEMATEX (European
Among these, a relief of Rs 19bn Committee of Textile Machinery
Marketing Incharge has been offered to sales tax and Manufacturers), the Sub-Council of
Tanveer Ahmed Rs 42bn for customs duty. In Textile Industry, CCPIT (CCPIT-Tex),
addition, the emerging information China Textile Machinery
technology (IT) sector has been Association (CTMA), and China
Circulation allocated Rs 58bn. One of the Exhibition Centre Group
Muhammad Sajid salient features of the current Corporation (CIEC). The show was
budget is duty-free imports of held successfully from 12-16 June
Address various raw materials. This tariff 2020 in Shanghai, China grossing
C-302, City Towers line (duty-free raw materials) 160,000-square-meters and
Main Boulevard, Gulberg II consists of 20,000 items which are bringing together 1,237 textile
Lahore-Pakistan 20% of all imports. These raw machinery manufacturers from 20
materials are used for various countries and regions.
Phone: + 92 42 35 788 700 industries, including textiles. The
Fax: + 92 42 35 788 700 tariff has either been removed The event went with great success.
entirely or reduced significantly on About 170 participants in the
the imports of 584 tariff lines exhibition were from CEMATEX
Email: info@textalks.com regarding regulatory duty and territories which occupied over
Skype: textalks customs duty to support industrial 9,200 square meters, amounting to
growth. Among 584 tariff lines 13 percent of the net space.
www.textalks.com getting benefits, fabric and other German exhibitors (57) displayed
textile-related products are present. their masterpieces over 3,700
square meters, while 63 Italian
The situation in Pakistan is a bit exhibitors took up over 2,500
different. Pakistan being a textile square meters at the event.

May/June 2021