Export industries: Incentive package likely to be unveiled on Tuesday

Package will offer tax rebate, duty cuts for raw material and machinery

KARACHI: The federal government is expected to announce the long-awaited incentive package for five major export goods industries on Tuesday morning, according to officials of the textile industry.

Analysts say the textile sector, which has over 50% share in Pakistan’s total exports, will be the biggest beneficiary of the package. Other four sectors are sports goods, leather, surgical instruments and carpets.

“Top textile exporters are flying to Islamabad today (Monday) for the package,” said a textile exporter who had been following the developments.

Secretary promises necessary facilities to textile sector

The package will contain different incentives like tax rebate and import duty cuts for raw material, machinery, etc.

The All Pakistan Textile Mills Association (Aptma), a strong lobbying group for yarn spinning, weaving and knitting industries, has been pushing the government for months to announce the package immediately so that the industry can better tackle the challenges posed by declining textile exports from the country.