Highlights of 5 Years National Textile Policy
Thursday, August 13, 2009
1- First-ever 5-year National Textile Policy
2- Export target set at $25 billion
3- Aims at increased production on sustainable basis
4- Rs40.000 Billion (Textile Investment Support Fund) for technology, standardization, value addition
5- Cotton value addition products to double in 5 years
6- Technology Up-gradation Fund to be established
7- Govt to pay 50pc mark-up on new investments
8- Rs.1.000 Billion for infrastructure uplift
Restructuring and reorganisation of the textile sector is on the cards which includes drawback of local taxes refund of past R and D claims and Magnetisation of PTA;
Key initiatives are creation of Textile Investment Support Fund (TISF); Technology Upgradation Fund (TUF); Infrastructure Development; Skill Development; Zero Rating of Exports; Tax free import of machinery and Rationalisation of Tariff structure;
The policy also envisages removing regulatory bottlenecks ie market access; marketing support, export house scheme, marketing insurance scheme and improving Information and communication technology;
The sub-sectors initiatives include Fibers, Ginning, Filament yarn, Shipping, Weaving and Knitting, non-woven, processing, home textiles, garments, fashion and design, technical textiles, handlooms and handicrafts, carpets;
The policy encompasses indigenization, women employment support programme, support for disabled, handicapped.
2- Export target set at $25 billion
3- Aims at increased production on sustainable basis
4- Rs40.000 Billion (Textile Investment Support Fund) for technology, standardization, value addition
5- Cotton value addition products to double in 5 years
6- Technology Up-gradation Fund to be established
7- Govt to pay 50pc mark-up on new investments
8- Rs.1.000 Billion for infrastructure uplift
Restructuring and reorganisation of the textile sector is on the cards which includes drawback of local taxes refund of past R and D claims and Magnetisation of PTA;
Key initiatives are creation of Textile Investment Support Fund (TISF); Technology Upgradation Fund (TUF); Infrastructure Development; Skill Development; Zero Rating of Exports; Tax free import of machinery and Rationalisation of Tariff structure;
The policy also envisages removing regulatory bottlenecks ie market access; marketing support, export house scheme, marketing insurance scheme and improving Information and communication technology;
The sub-sectors initiatives include Fibers, Ginning, Filament yarn, Shipping, Weaving and Knitting, non-woven, processing, home textiles, garments, fashion and design, technical textiles, handlooms and handicrafts, carpets;
The policy encompasses indigenization, women employment support programme, support for disabled, handicapped.
Labels: Economy and Business, Pakistan Economy, Textile
posted @ 10:25 AM,
0 Comments:
Post a Comment