Search Results for: Pakistan

THE INDIAN clothing and textile industry thinks it is better able to score export orders internationally since March when the central government announced new tax benefits for the country’s garment exporters. Rahul Mehta, president of Clothing Manufacturing Association of India, told just-style, that the combined reduction in costs delivered by a refund of the central and state taxes, new benefits under the Merchandise Exports from India Scheme (MEIS), and renewed 2% duty drawbacks, is 9% to 10%, and that “makes us more competitive”.…

PAKISTAN’s apparel and garment exporters have called on the country’s new government to simplify what it regards as overly complex trading red-tape impeding the import of key inputs, vital for diversifying export-oriented production.

“To increase our exports, we will have to enhance our product lines and relax the existing import policy for import of raw materials,” Muhammad Ijaz Khokhar, coordinator of the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) told just-style.…

REDUCED energy tariffs for Pakistan’s export-oriented textile sector look set to kickstart a revival in the country’s ailing power loom industry.  

It has been struggling due to a dip in demand for exports, which the industry blames to a significant degree on high gas and electricity rates over the past decade, said Waheed Khaliq Ramey, chairman Council of Power Looms Owners Association, who said it has sparked a 10% reduction in operations in Faisalabad – the hub of Pakistan’s power loom industry, with 250,000 of the country’s 300,000 looms in the region.…

The Czech textile industry has a long traditional presence in the country, and local textile printing firms are steadily adopting digital technologies. One of the key players is OP Tiger, which significantly increased its output after it moved last September (2018) to a new facility in Hrbovice, near the town of Ústí nad Labem in North Bohemia.…

IN a country where tax collection remains weak, Bangladesh accounting experts now hope that a 2012 transfer pricing (TP) law is finally starting to increase revenues, although progress is slow. Demonstrating the difficulties involved in rolling out complex tax legislation in emerging market states that targets powerful multinationals, the country’s National Board of Revenue (NBR) says that it collected just USD1.2 million’s worth more taxes from 10 multinationals (which it would not name) in the financial year to last June (2018) than without taking TP into account.…

THE EUROPEAN Union (EU) chocolate, biscuit and confectionery industry association CAOBISCO has raised concerns that EU exporters will be unable to exploit the reduction of Japanese tariffs under the EU-Japan Economic Partnership Agreement (EPA), in force since February 1. CAOBISCO is concerned about how the deal includes rules of origin forcing its members to demonstrate how they source specific volumes of ingredients from the EU, rather than their value, which would be easier to demonstrate.…

PAKISTAN’S textile manufacturers and exporters appear divided over the possible negative impact on the country’s textile sector arising from prevailing tensions on the Indian border.

According to exporters, concern cause by air strikes by India in Balakot – in Pakistan’s Khayber Pakhtunkhwa province – on February 26 – will affect export volumes as some foreign buyers may have diverted new orders to other countries like Bangladesh and China.…

INDIA’S large military forces are to start sourcing a significant volumes of technical textile products from private companies from next year (2020), opening up a new market for local and international manufacturers, delegates at a recent conference were told in New Delhi.…

GOVERNMENT moves in Pakistan to rationalise taxes, duties and other levies for exporting manufacturers have been widely welcomed by the country’s textile sector.

The government has withdrawn a 3% customs duty, 2% additional customs duty and 5% sales tax on imports of raw cotton, meeting a further long-standing demand of the textile industry, besides allowing a five-year tax break for new textile manufacturing plants.…

THE EUROPEAN Commission has included four American external territories – Puerto Rico, the US Virgin Islands, Guam and American Samoa – on a proposed blacklist of weak AML/CFT jurisdictions released today (Feb 13).

Brussels’ updated list includes 12 countries that are viewed with concern by the Financial Action Task Force (FATF) – the Bahamas, Botswana, North Korea, Ethiopia, Ghana, Iran, Pakistan, Sri Lanka, Syria, Trinidad & Tobago, Tunisia and Yemen. …