Islamabad December 14th  , 2010

Rana M. Farooq Saeed Khan

Textile Ministry assures cooperation to Textile Industry:                                                                        

Federal Minister for Textile Industry, Rana M. Farooq Saeed Khan, presided over a meeting here that was attended by representatives from various textile associations and stakeholders. The agenda of the meeting was to discuss RGST and its possible implications on textile industry. Ejaz Gohar, chairman of APTMA, said that APTMA was not against the imposition of RGST but to the mechanism of its collection. He said that the textile sector had a long value chain and under RGST Rs 517 billion refunds of textile chain would be stuck up with the government further exacerbating the already worried sector.

The representatives of textile associations said that the government should not withdraw zero rated regime on textile exports as the industry was already facing liquidity crunch. They all agreed that domestic consumption should be taxed and that they would support it if the sole purpose of the government was to collect tax.

Federal Minister said that government’s vision was clear which is ‘to protect the textile industry’ as it was the country’s economic backbone and a key sector.

“The PPP government knows the importance of textile sector and all necessary steps would be taken in consultation with all the stakeholders to protect and promote the industry”, said the minister.

Later, the heads of textile associations and stakeholders submitted a signed paper (containing their joint recommendations and proposals) to the minister and requested that these be forwarded to the government for consideration.

The minister said that the government should introduce the tax but in consultation with all the stakeholders. The minister also welcomed the proposals and assured the participants of his ministry’s cooperation.“Textile Ministry would do all it can to alleviate the fears of textile industry”, added the minister. 



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