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EXHIBITOR NEWS

Approaching the local market- Textile Brief Pakistan

Facing the challenges arising from the sudden and unexpected outbreak of COVID-19, the APPPEXPO Committee is take use of the power influence of Asia Advertising Association and the platforms of inviting the professionals, the section of Approaching the Local Market will be posted on APPPEXPO's official social medias to build a business match between the exhibitors and visitors during the warm up before the new exhibition date.

 

We have generally understood the whole Pakistan market in last issue. Now could you take up 10 mins to read the following content to learn more about the latest Pakistan’s textile printing industry?

 

Through continuous warm-up, communication and sharing in the early stage, let us jointly wait for and look forward to the APPPEXPO 2020 with higher quality of participation and experience!

 

Textile Briefs Pakistan

1. The EU extension of the Generalized System of Preference (GSP) Plus till 2022 would help Pakistan boost up its textile exports by US$ 500 million on per annum basis said Adviser of PM on Commerce Abdul Razak Dawood.

2. All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir urged the government to freeze the interest rate on loans and requested the State Bank of Pakistan to ask banks to suspend interest on long-term and working capital loans and advances till June 30.

3. The ECC approved a supplementary grant of Rs30 billion for the Ministry of Commerce allowing it to payback duty drawbacks to textile exporters in the current financial year to improve their liquidity position as businesses are experiencing a slow down amid coronavirus-led lockdown.

4. Commissioner Multan Shan-Ul-Haq gave approval to 29 textile factories to continue work by ensuring precautionary measures against coronavirus. According to a notification, Commissioner, Shan-Ul-Haq said that it has been decided to provide relief to the textile industry in section 144.

5. Prime Minister of Pakistan Imran Khan has accorded approval to the country’s textile policy 2020-25 under which the textile exports will be jacked up to US$ 28 billion in five years' time by 2025.

6. After the economic crisis caused by the Coronavirus, foreign buyers cancelled or suspended US$ 1.3 billion worth of textile products from Pakistan, textile industries have demanded from the government for emergency measures.

7. The Federal Board of Revenue (FBR) said that it has released refunds worth Rs56 billion through the Fully Automated Sales Tax e-Refund (FASTER) system to help exporters combat the impact of coronavirus on their businesses and liquidity issues.

8. Pakistani Ambassador designated to Denmark Ahmad Farooq said Faisalabad should further enhance textile exports to explore new opportunities for the export of frozen vegetables to Denmark.

9. The textile exports from the country during July-March (2019-20) were recorded at US $10.41 billion against the exports of US$ 9.99 million in July-March (2018-19), showing growth of 4.24%, according to the PBS data.

10. Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), Ahmad Farooq said both the countries could also launch joint ventures for value addition.

 

Fight COVID-19, APPPEXPO in Action, the virtual expo and online live talk are coming soon.