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Pakistan, Thailand move closer to FTA
After having had four rounds of talks, Pakistan is pinning hopes on signing a free trade agreement with Thailand. Matters that have been discussed relate to trade in goods, rules of origin, technical barriers to trade, trade remedies, customs procedures, legal and institutional issues and trade facilitation.
Pak approves Rs 185 mn for textile sector
The Government of Pakistan has approved Rs 185 million under the Export Development Fund (EDF) for development projects to boost exports and develop the textile sector.
Rising cost hits Pak textile industry
Rising cost of doing business over last several years has not only stalled fresh investment in the textile industry but also hampered the export growth and turn over.
GST: Bane or boon?
The politics of Goods and Services Tax (GST) may take some more time to sort out, but its basic impact on textile industry can be analysed beforehand. ITJ sought opinions on GST’s impact on the textile industry. Current exemptions on certain goods to continue: Multiple exemptions exist under the present tax system – the Centre has ~300 items exempted from central excise duty, while the States (together) have ~90 items exempted from VAT. These will be merged into a Final synchronised exemption list under the GST regime.
SOS to Textile Minister
The SRTEPC has played a transforming role over the years in promoting exports of Indian Man-made fibre textiles. Exports of these items which were negligible in the 1960s, have grown substantially to touch Rs. 34,518 crores (US$5.75 billion) during 2013-14.
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