CAPTA rejects Pakistan Government’s cash incentives | Textile News Pakistan
Home » News » Textile Mills News » Capta Rejects Pakistan Governments Cash Incentives

CAPTA rejects Pakistan Government’s cash incentives

Share: 
      Newsletter

READ MORE ON CAPTAPakistan Textile IndustryTextile News Pakistan

Rejecting

Image Courtesy: taxshieldsoftware.com

In a recent letter to the Government of Pakistan, Council of All Pakistan Textile Associations (CAPTA) has rejected the Government’s consideration of custom rebate and cash subsidies, fearing the move would further hurt the exporters. Instead of cash incentives, CAPTA has urged the Government to help reduce the input cost, which is a more effective way to provide financial relief to the export sector.

The letter questions the move of the Government by suggesting it “to reconsider its proposition since such a move in the past has proven futile for the entire textile sector and would only help the unscrupulous elements”. CAPTA demanded the Government to appoint a Textile Minister who will pave the way for the Government to scale down the manufacturing costs including gas and electricity rates for the export sector, especially in Karachi which should be at par with rates that of other cities in the country.

Also ReadPakistan’s textile exports tumble

CAPTA further demands that the Government should decide a fixed percentage of sales on the packing material and also suggested the Government to spend Rs. 26 billion funds on the textile sector’s growth, which it collects through Export Development Surcharge of 0.25 per cent by deducting from export proceeds of the exporters.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

India’s KVIC gets order worth Rs. 2 crore from Raymond

India-based textile and apparel conglomerate, Raymond has placed an order of Rs. 2 crore to get supply of 98,000 metres of Khadi fabric...

Indian Ministers discuss measures to boost jute production

Two Indian ministers have discussed measures to boost jute production in the country... Union Textiles Minister Smriti Irani and her counterpart in the...

Welspun India re-appoints Rajesh Mandawewala as MD

Welspun India Ltd., India’s leading textile conglomerate, has re-appointed Rajesh Mandawewala as the Managing Director. His re-appointment has been approved by the Board for...

South Korean textile firm Samil Spinning to buy Buhler Quality Yarns

Samil Spinning Co., a textile company based in South Korea, has agreed to buy US-based Buhler Quality Yarns, the Korea Trade Investment Promotion...

Global e-textiles market to reach US $ 5 billion by 2027

According to the ‘E-Textiles 2017-2027: Technologies, Markets, Players’ report – published by Research and Markets (a US-based market research firm)– global e-textiles market...

Taipei textile manufacturer to start garment plant in Vietnam

Taipei-based textile manufacturer Far Eastern New Century Corp. said that its new garment plant in Vietnam might start its operations in the first...

Only 10% of Indian textile items belong to technical textiles: Textile Commissioner

Only 10 per cent of Indian textile products belong to technical textiles compared to developed nations such as Germany where 50 per cent...

Lenzing to increase Tencel fibre production

Lenzing Group, Austria-based manufacturer of textile and nonwovens cellulose fibres such as modal and lyocell, is expanding production capacities of tencel fibres at its site in Heiligenkreuz, Burgenland (Austria). “We will...

CCI rejects complaint against Prafful Overseas, Welspun Syntex

Complaints filed against two Gujarat-based yarn manufacturers Prafful Overseas (OP-1) and Welspun Syntex (OP-2) have been dismissed by Competition Commission of India (CCI),...

Bangladesh Govt. mulls to launch weaving village

Bangladesh Government is planning to launch “Weaving Village” at Shibchar in Madaripur and Janjira in Shariutpur. Prime Minister Sheikh Hasina informed this while...