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Pakistan:Uninterrupted supply of raw materials assured to textile millers |
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2004-10-8
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Government has assured textile millers that it would ensure uninterrupted availability of raw material at reasonable prices, informed the federal textile minister Chaudhary Mushtaq Ali Cheema on Wednesday.
Addressing the members of the All Pakistan Textile Mills Association (APTMA) he said, “We also have to protect the interests of growers so that they could grow more cotton in the country.” According to him, the country was likely to pick 12 million bales cotton this year and added that textile industry generally imported cotton for finer counts of yarn.
He called for adopting cotton trading modes like ‘hedging’ for an assured supply of raw material for the textile sector.The minister said with the introduction of the WTO regime,the style of doing trade would be changed significantly.
“ Trade is the engine of industry; More the trade, better will be the industry,” he said. Responding to APTMA demands regarding sales tax refund, he said that the Central Board of Revenue (CBR) was presently working on a project to facilitate exporters in getting the sales tax refund without any delay. Under this project, he added, about 200 leading exporters would be picked up by the CBR for online settlement of the ST refund cases.
He said this pilot project would ultimately be expanded to remaining exporters and added that a business centre would be set up at ministry of textiles to facilitate industrialists during their visit to Islamabad. |
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