Textile Exports To Be Declared Zero-Rated From July 1, Claims Koraja

Textile Exports To Be Declared Zero-Rated From July 1, Claims Koraja
President of Pakistan, Mamnoon Hussain has categorically assured National Assembly Standing Committee on textile industry that textile exports would be declared zero rated from July 1, said Khawaja Ghulam Rasool Koraja Chairman National Assembly Standing Committee on textile industry. He was addressing a special function hosted by Faisalabad Chamber of Commerce and Industry (FCCI) here on Saturday. He said that problems confronted by the textile sector are piling in the absence of textile minister and standing committee has to play its proactive role to facilitate this major foreign exchange-earning and job creating sector of the economy.
He said that due to our combined efforts, the energy crisis has been resolved to some extent and textile sector is now getting electricity and gas according to its requirements for the last seven to eight months. Regarding 15 percent regulatory duty on yarn imports, he said that the committee has recommended its immediate withdrawal while he will also raise this issue on the floor of the assembly.
He said that next session of assembly is expected to start from 9th of May and the members of the standing committee on textile industry would unanimously demand the withdrawal of this unjustified levy. He said that the textile ministry is directly related to the agriculture sector and having a rural back ground, he also wants more facilitation to the agriculturists who are the backbone of our industry.
He told that standing committee has written a letter to the Prime Minister to resolve the issue of textile ministry by handing over the portfolio of this ministry to Haji Akram Ansari MNA.
President Faisalabad Chamber of Commerce and Industry Chaudhary Muhammad Nawaz also presented a resolution for the appointment of Haji Akram Ansari as textile minister and said that it is imperative to save this important segment of national economy form repeated crisis. Earlier, Mian Abdul Mannan MNA welcomed the members of National Assembly standing committee and said that the problems inherited to this government were pending for the last many decades. He said that we must develop high yielding and disease resistant cotton varieties to produce long staple yarn which could be used for the manufacturing of fine cloths.