Contact us on +022 2419 3000 or indiantextilejournal.com.

Pakistan textile exports to increase by $5 bn by 2022

Jun 21, 2021
Pakistan textile exports to increase by $5 bn by 2022

Islamabad

As the export duties on the raw material reduce, it is expected that the textile exports from Pakistan will increase by $5 billion in the next fiscal year.

According to Robina Ather, chairperson of the National Tariff Commission (NTC), much relief has been given to the export sectors in the past two years. Around 2,000 tariff lines have been reduced to zero and the duties on raw materials have also been reduced. She also said that textile exports will increase by $4-5 billion next year.

Officials from FBR informed that the government has decided to do away with the tax on the import point-of-sale machines.  The retail stores can import duty-free machines. The import duty on the card reader machine and duty on raw materials of pharmaceutical items has also been removed. Senator Sabzwari has requested that the medicines should also be cheaper now. According to Senator Sadia Abbasi, the establishment of theme-based parks is needed to protect human lives. According to her tourism makes the country stand out.

The FBR also involved that vehicles below 850 CC need not pay the regulatory and additional customs duties. Duty on import of auto kits has also been reduced to 15% so that the local auto sector can be promoted.  As per Senator Mandviwalla, there should be a pricing system as the most expensive cars are being made in the country.

Source – The Nation

Image Source

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/pakistan-textile-exports-surges-by-213--in-10-months

https://indiantextilejournal.com/latest-textile-industry-news/truth-behind-pakistan-s-3-times-rise-in-textile-exports