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Customs duty on sizing chemicals may be withdrawn.

ISLAMABAD, July 27, 2009 (Balochistan Times) -- Seeing a possibility of withdrawal of customs duty on import of sizing chemicals, Commerce Minister Makhdoom Amin Fahim Monday announced numerous measure to support the textile sector. The government attaches much importance to textile sector and new Trade Policy has number of initiatives for this sector, he said announcing the National Trade Policy 2009-12. In this regard, the minister mentioned to promotion of new investment and modernization of machinery and said, for diversification of exports mix, custom duty may be zero rated on import of Man Made Fibres other than Polyester Staple Fiber. Customs duty on import of sizing chemicals may be withdrawn, he said and referred to establishment of warehousing in major markets, requiring direct to Store Delivery. He said Brand Development Program would be launched to encourage the establishment of domestic and international brands and tariff would be rationalized on the principle of cascading to provide the exporting industry with an environment which supports manufacturing rather than trading. The minister said, initiatives would be taken for greater market access, developing and enlarging acceptability of Pakistani textiles and clothing in niche markets and diversification of exports to new destinations. The Minister also mentioned to initiatives to promote more effective holding of local and participation and foreign exhibitions as well as promotion of new investment and modernization of machinery. He said the government recognizes the importance of the Textile and Clothing Sectors and to provide a foundation for sustainable growth, various initiatives are being planned through a separate and first ever Textiles Policy, to be announced shortly. The major thrust of the Textiles Policy, he said, will be to enhance domestic capabilities and capacities for efficient use of resources through skills development, technology upgradation and provision of infrastructural facilities. Measures are also envisaged for diversification of fiber usage and mix, he added. The minister said, the Textile Policy takes a holistic approach and will contain short-term and long-term measures to support the textiles and clothing manufacturers. It would also help them overcome the current problems created by the global down turn and equip them with necessary ingredients to meet the growing competitiveness challenges of the future. The Strategic Trade Policy Framework would leverage the Textile Policy through its diverse measures and policies directly and indirectly, he added. The Ministry of Commerce would lend its support to the Ministry of Textiles towards an efficient implementation of Textile Policy, the minister said.

(THROUGH ASIA PULSE)
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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Jul 27, 2009
Words:409
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