ANL 15.88 Decreased By ▼ -0.27 (-1.67%)
ASC 13.50 Decreased By ▼ -0.42 (-3.02%)
ASL 18.30 Decreased By ▼ -0.47 (-2.5%)
BOP 8.88 Increased By ▲ 0.13 (1.49%)
BYCO 7.35 Decreased By ▼ -0.19 (-2.52%)
FCCL 18.09 Increased By ▲ 0.30 (1.69%)
FFBL 23.10 Increased By ▲ 0.02 (0.09%)
FFL 15.30 Increased By ▲ 0.05 (0.33%)
FNEL 7.11 Decreased By ▼ -0.14 (-1.93%)
GGGL 16.86 Decreased By ▼ -0.04 (-0.24%)
GGL 28.15 Decreased By ▼ -1.05 (-3.6%)
HUMNL 6.64 Increased By ▲ 0.16 (2.47%)
JSCL 19.60 Decreased By ▼ -0.50 (-2.49%)
KAPCO 27.00 Decreased By ▼ -1.15 (-4.09%)
KEL 3.43 No Change ▼ 0.00 (0%)
MDTL 2.18 Decreased By ▼ -0.06 (-2.68%)
MLCF 35.01 Decreased By ▼ -0.11 (-0.31%)
NETSOL 103.75 Decreased By ▼ -5.20 (-4.77%)
PACE 4.18 Decreased By ▼ -0.17 (-3.91%)
PAEL 27.15 Decreased By ▼ -0.85 (-3.04%)
PIBTL 8.20 Decreased By ▼ -0.22 (-2.61%)
POWER 6.93 Decreased By ▼ -0.07 (-1%)
PRL 16.44 Decreased By ▼ -0.21 (-1.26%)
PTC 9.08 Decreased By ▼ -0.09 (-0.98%)
SILK 1.50 Increased By ▲ 0.02 (1.35%)
SNGP 40.75 Decreased By ▼ -0.27 (-0.66%)
TELE 17.14 Increased By ▲ 0.41 (2.45%)
TRG 130.36 Decreased By ▼ -3.74 (-2.79%)
UNITY 29.90 Increased By ▲ 0.05 (0.17%)
WTL 2.43 Decreased By ▼ -0.11 (-4.33%)
BR100 4,763 Increased By ▲ 46.96 (1%)
BR30 20,671 Decreased By ▼ -168.62 (-0.81%)
KSE100 45,821 Increased By ▲ 321.94 (0.71%)
KSE30 18,006 Increased By ▲ 181.61 (1.02%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,328
1624hr
Pakistan Cases
1,266,826
62224hr
1.4% positivity
Sindh
466,750
Punjab
438,433
Balochistan
33,149
Islamabad
106,571
KPK
177,132

FAISALABAD: All Pakistan Textile Processing Mills Association, (APTPMA) thanked the PM Imran Khan for approving a progressive and innovative textile policy 2020-25 and congratulated Advisor for Commerce & Investment Abdul Razak Dawood and Finance Adviser Dr Abdul Hafeez Sheikh on approval of the five year textile policy despite enormous odds, Covid-19 pandemic, and resource constraint, which is a healthy augury for textile industry of Pakistan and said it is a right step in the right direction.

The policy is textile-friendly, investment-friendly, and export-oriented, and opined that the incentives being given by the Govt to boost the textile industry will prove beneficial for all textile industrial investment. It will also be helpful for our domestic and export industry and reduce cost of production for whole of the textile industry which will enable us to boost our export drive and strengthen our business in international markets.

This was learnt through a Press Release issued by the APTPMA H.O. Secretariat, Faisalabad. Lauding on the salient features envisaged in the new Textile Policy, the APTPMA Chairman, Zulfiqar Ali Chaudhry and Senior Vice Chairman, Rehan Ashraf spelt out these measures as under: In the policy, it has been proposed to provide electricity at 7.5 cents instead of 9 cent for the textile sector, followed by RLNG at $6.5 per mmbtu and domestic produced gas at Rs786 per mmbtu. The policy aims to reduce the input cost of textile and clothing sector and make it competitive with the regional players.

The proposed package carries special duty-drawback rates, rationalisation of duty on textile value chain and subsidy on long-term loans and development subsidies. The focus of the policy is to enhance the productivity and competitiveness of the textile sectors.

The APTPMA office-bearers said that prior to its final approval by the cabinet it must be ensured that incentives/relief being announced in the policy should cover all indirect and direct exporters and we assures the government that implementation of the textile policy in letter and spirit will ensure the doubling of textile exports from $ 13 billion to $ 26 billion in next five years.

He said that now all textile sectors should pay their all attention to improve their production and export to remove unemployment and uncertainty from our country. Concluding, APTPMA Chief once again thanked PM Imran Khan and his team on approval of the textile policy and said that the forthcoming Textile Policy could prove beneficial and meaningful if only its stipulations are spelt into action in letter and spirit by all the stake holders.-PR

Copyright Business Recorder, 2020

Comments

Comments are closed.