Page 23 - October-November-2018

22 PHMA elects Mr Adil Butt as unopposed 23

PRGMEA urges Govt. to Chairman, Executive Body for 2018-19

set up Pakistani trade PHMA (North Zone) has elected Mr Adil Butt, Mr Sh products with over $2.7 bn earning previous year.

houses abroad Sarwat Kapoor and Mr Kashif Zia as unopposed He promised that the value added textile sector is
Chairman, Vice Chairman and Senior Vice Chairman
respectively for the year 2018-2019. For the post of
ready to work closely with the new government with
Central Chairman Mr Javaid Bilwani was elected and
growth momentum.
the results have been approved. a prospect to increase the exports and revive the
According to the PRGMEA chief coordinator Mr Ijaz A Khokhar, PRGMEA, The Pakistan
Readymade Garments Manufacturers and Exporters Association has recently stressed the need Furthermore, other recently elected Executive A research to undertake thorough research and brief
to explore non-conventional international markets to promote and increase the textile exports.
Pakistan display houses and exhibition centers ought to be established in Dubai and Rotterdam Committee members include Mr Sajid Hussain the SMEs on the emerging challenges should be
done. He hopes that the government will help boost
Bhatti, Mr Qamar Aftab, Mr Afzal Awan, Mr Shaheen
to aid the domestic exporters.
Tabssum, Mr Kashif Zia and Mr Muhammad the textile exports and address the macro and micro
Sarwat Kapoor. issues of the trade and commerce. Mr Adil Butt said
Mr Ijaz A khokhar commented that these centers can facilitate domestic entrepreneurs to handily that growth of value-added textile industry was a
settle business deals at minimum travel costs. He further said that a large number of foreign In a statement, the new Zonal Chairman, termed the must to steer the industry of worse situation and
businessmen were visiting Dubai because it had become major trade and business hub,
therefore, display centers would enable the domestic entrepreneurs to settle their business deals knitwear industry as the best in ranking of export contribute to the exports of the country.
more easily as well as help to reduce the additional burden of travel cost.

Urging the govt. to separate the textile sector into 3 categories—raw material, home textile and
apparel, he mentioned a garment export promotion council ought to be established comprising
representatives from the public and private sectors to administer garment manufacturing
activity and policymaking.
US and Japan to negotiate a

Sri Lanka reduces VAT on imported bilateral trade agreement

fabric to 5pc Japan recently united to barter a trade written United States will not take any action under Section

agreement with the US once Japanese Prime 232, a US legal clause that allows the country to
Considering the requests that have been made by the fabric industry stakeholders, the Sri Lanka Govt. Minister Mr Shinzo Abe met United States of America restrict imports due to concerns over
has decreased the VAT (Value Added Tax) to 5pc on the imported fabric. This step can assist the small President Mr Donald Trump on the sidelines of the national security.
scale industrialists under the Enterprise Sri Lanka scheme which provides raw material and other annual UN General Assembly session. In a joint
fabric at a lower cost. statement, each pledged to “refrain from taking US Trade Representative Robert Lighthizer
measures against the spirit” of their understanding commented, “The president is not going to join the
Earlier, at the time of imports the fabric was subject to Rs 100/kg CESS. 15pc VAT on goods has been for as long as negotiations proceed. The statement TPP (Trans-Pacific Partnership). But this is a very
proposed in the Budget 2018. Hence, the Value Added Tax Act No 14 of 2002 was accordingly said, “The United States and Japan will enter into important step, in terms of expanding our
amended and also the new VAT scheme came in to effect from the 16th of August, 2018. negotiations, following the completion of necessary relationship with Japan.
domestic procedures, for a United States–Japan
Sri Lanka’s ministry of finance and mass media commented, “As fabric was also subject to 15 per cent Trade Agreement on goods, as well as on other key However, the proposed trade deal will only focus on
VAT, importers, traders and industrialists engaged in using fabric as raw material for making areas including services, that can produce early goods and will not be a full-fledged free trade
readymade garments had appealed to the minister of finance to provide them some relief as achievements.” agreement, a much more complex and
small-scale traders and industrialists who are not covered under VAT act have time-consuming deal that also looks at the
the adverse effect.” Japan understands that the agreement implies the service sector.

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