President of Karachi Chamber of Commerce & industry (KCCI), Naqi Bari has sent a proposal to Prime Minister Shukat Aziz to draw his attention towards value-added textile sector.
He said that sectors such as knitted & woven garments and towel & bed linen are remained untouched while introducing budget.
These sectors are facing tough competition from the countries like India, China, Bangladesh, Cambodia and Vietnam.
Textile exporters should be given cost compensation at 5 percent of Free on Board (FOB) value and 0.5 percent deduction in income tax, Naqi Bari suggested.
He also stated that export refinance rate should be reduced to 3.75 percent from 7.5 percent by increasing R&D fund from 6 percent to 9 percent in towel and bed linen sectors.
He emphasized that manufacturer-cum-exporters of these sectors will be eligible to receive these facilities only when they are registered with sales tax, member of relevant product manufacturing association, incentives applicable be routed relevant associations.
marketing@alchempro.com
