STORM CLOUDS BREW FOR THE PAKISTAN KNITTING INDUSTRY
May 22nd, 2015
Despite a healthy growth in knitwear exports from Pakistan, the industry is concerned about a potentially harsh government budget, which is expected to be approved in June. There are indications the federal Pakistani government intends to hike sales tax rates from 2% to 5% on exports; impose a gas infrastructure development charge on businesses; and withdraw existing special subsidies that have benefited the knitwear sector. Knitwear producers and manufacturers are concerned, complaining that the government is neglecting productive sectors and narrowly focusing ...
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