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Pakistan's new Textile Policy grants duty exemptions

Pakistan's textile policy for 2015-19 has provisions for special duty drawback rates, duty exemption on plants and machinery, subsidy on long term loans and development subsidies. The country’s production chain has inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, dyeing and finishing, made -ups and garments. Barring seasonal and cyclical fluctuations, textile products have maintained an average share of about 54 per cent in national exports.

The textile sector contributes nearly one-fourth of industrial value added, provides employment to about 40 per cent industrial labor and consumes about 40 per cent of banking credit to the manufacturing sector. However, the sector has remained stagnant over the last decade.

Resistance to grading and standardisation of cotton bales by ginners and spinners alike has consistently lowered the value of Pakistani cotton by around 10 cents per pound in the international market. The value added garment sector has shown marginal growth due to its limited product range, low use of manmade fibers and the inability of manufacturing units to restructure in order to meet changing international requirements. Cotton production has remained stagnant at about 13 million bales per annum.

 
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