Textile Industry Export New Federal Budget 2014-2015

Textile Industry Export New Federal Budget 2014-2015

Textile Industry Export New Federal Budget 2014-2015

Textile Industry Export New Federal Budget 2014-2015 is now announced form Ishaq Daar.

Following measures will go a long way for the sustainability and growth of the Textile Industry in Pakistan

•    Long Term Financing Facility (LTFF) for up-gradation of technology at the rate of 9% for 3-10 years.

•    Duty-free import of textile machinery for two years.

•    Draw-back of local taxes and levies to exporters of textile products: 4% for garments, 2% for made-ups and 1% for processed fabrics.

•    The Expeditious Refund System for exporters.

•    Disposal of all pending Sales Tax Refund Claims before 30th September 2014.

•    All admissible refund claims of exporters to be disposed of within 3 months.

•    The textile chain will be given protection with provision of predictable tariff for future.

•    Export Refinance Facility at 7.5%.

•    No change in the reduced rate regime for the export oriented industry.

This is a clear indicator that the Government is keen to realize the potential of the Textile Industry.

Textile Industry Export New Federal Budget 2014-2015

Textile Industry Export New Federal Budget 2014-2015 by>>Rose.