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Pakistan's Ministry of Commerce working to get textile policy cleared by ECC

2020-10-14 Editor:Super administratorSource:Original

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Pakistan's Ministry of Commerce is busy trying to ensure that the Fabric Policy 2020-25 is approved by the Economic Coordination Committee (ECC) as unless the policy is implemented, the increase in exports will not be possible, according to adviser on commerce and textile to the prime minister Abdul Razak Dawood, the department is working on procedures for how to implement it

 

Prime Minister Imran Khan approved the policy a few months back.

To support the demand for the textile sector to continue the regional electricity and gas tax for the next three years, Dawood said he himself was trying to introduce regional taxes on the 2020-21 export industry.

 

The Department will soon prepare a summary that the ECC wants to approve the $ 6.5 regional tax rate for MMBTU and 7.5 cents per unit tax for 2020-21 per unit of financing for 2020-21, according to a Pakistan newspaper report.

 

According to Shahid Sattar, executive director of the All Pakistan Textile Association (APTMA), exports of textiles increased by 14.5 percent in July and total exports by 5.8 percent.


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