Search Results for: Pakistan

The central chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz Khokhar has welcomed a new government incentive package of Pakistan Rupees PKR180 billion (USD1.7 billion) designed to boost the country’s clothing and textile exports.

These industries remain the country’s key export earner, and the package especially focuses on clothing, with the government cutting import duties on key cotton and fabric inputs.…

THE HONG Kong and Pakistan government have signed a comprehensive agreement on avoiding double taxation. Pakistani tax paid by Hong Kong companies will be credited against Hong Kong taxes on the same profits, with the reverse applying for Pakistan companies. Pakistan’s withholding tax rates for Hong Kong residents on royalties and fees for technical services (both currently 15%) will be capped at 10% and 12.5% respectively.…

2016 – Winners and losers

RETAILERS & BRANDS

WINNERS

US-based sportswear brand Under Armour delivered its 26th consecutive quarter of 20%-plus revenue growth in the third quarter of 2016, with sales increases across all divisions. Net sales were up 22% in the third quarter to USD1.47bn.…

LEADING French automaker Renault could soon start producing vehicles in Pakistan, the chairman of the south Asian country’s Board of Investment (BOI) has predicted to wardsauto. Miftah Ismail said that the manufacturer had submitted an application to the government of Pakistan seeking permission to produce cars locally, initially in a joint venture with Ghandhara Nissan, which is Renault’s global partner.…

PAKISTAN’S denim export industry hopes that help for the textile announced by the government in February (exemption from paying sales tax and payment of long overdue tax refunds) and in a meeting with industry leaders in September (a promised reduction in energy costs) will boost this promising segment.…

Indian cotton exports to Pakistan are expected to drop sharply after rising political tensions between the two neighbours over the Kashmir issue and the availability of more competitive cotton from West African countries and United States, WTiN has been told.

“There are concerns of [Indian and Pakistan] putting a stop to each other’s trade,” said Atif Dada, chairman of the Karachi Cotton Association, in Karachi.…

Leaders of Pakistan’s ailing clothing and textile industry have told just-style how they are concerned about their sector’s declining exports, calling on the federal government to intervene promptly to reverse this trend.

“Our exports have been continuously falling since 2013 and the government failed to take any remedial measures,” said Muhammad Ijaz Khokhar, Central Chairman of Pakistan Readymade Garments & Exporters Association (PRGMEA).…

A KEY women’s business group in Pakistan has voiced concerns about a fall in textile exports from the country, given the industry is not only the largest foreign exchange earning sector of the country, but a key employer of female workers nationwide.…

Worries are looming large over the Pakistan meat market as exporters fear further falls in exports amid unchecked smuggling of cattle to neighbouring Afghanistan and Iran. According to Nasib Ahmed Saifi, chairman of the All Pakistan Meat Exporters & Processors Association (APMEPA), Pakistan’s halal meat exports have declined by 40% to USD2 billion from USD2.4 billion in just one year: “If the government doesn’t come up with a proper strategy to curb the menace of smuggling, we fear our exports may further go down,” Saifi said.…

COTTON

Cotton maybe one of the most popular fibres for clothing and accessories because of its universality, timelessness, and availability, but this past year has shown that the fibre is not immune to volatile economic markets. World cotton production fell by 17% to 21.65 million tonnes in 2015-2016, the lowest volume since 2003-2004, according to the International Cotton Advisory Committee (ICAC).…