{"id":75135,"date":"2025-05-21T22:08:52","date_gmt":"2025-05-21T17:08:52","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=75135"},"modified":"2025-05-21T22:08:52","modified_gmt":"2025-05-21T17:08:52","slug":"pm-shehbaz-set-to-announce-new-textile-policy","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pm-shehbaz-set-to-announce-new-textile-policy\/","title":{"rendered":"PM Shehbaz set to announce new textile policy"},"content":{"rendered":"

ISLAMABAD: Parliament<\/span> was informed on Wednesday that the Prime Minister Shehbaz Sharif <\/a>will soon announce a new textile policy, which will<\/span> lead<\/span> to the proposed<\/span> 11% sales tax currently charged<\/span> on locally<\/span> produced<\/span> cotton<\/span> being<\/span> abolished<\/span>.<\/span><\/p>\n

Parliamentary Secretary Zulfiqar Ali Bhatti stated while responding to a question by Sharmila Faruqi while<\/span> Parliament<\/span> was<\/span> in<\/span> session,<\/span> and<\/span> stated on<\/span> behalf<\/span> of<\/span> the government<\/span>\u00a0that<\/span> a<\/span> new textile policy will be released<\/span> in<\/span> a<\/span> couple of months from<\/span> now<\/span>,<\/span> and<\/span> the Prime Minister himself<\/span>\u00a0will announce<\/span> the new<\/span> textile<\/span> policy<\/span>.<\/p>\n

Zulfiqar<\/span> Ali<\/span> Bhatti informed<\/span> Parliament<\/span> that this<\/span> country is importing more cotton than it is<\/span> producing<\/span> domestically<\/span>,<\/span> and<\/span> stated<\/span> that<\/span> he<\/span> believes<\/span> the Federal Board of Revenue<\/a> (FBR) should<\/span> abolish<\/span> the<\/span> 11<\/span>%<\/span> sales<\/span> tax<\/span> on locally produced cotton.<\/span><\/p>\n

This<\/span> will<\/span> hopefully<\/span> increase<\/span> local<\/span> production,<\/span> and exports<\/span> would<\/span> eventually<\/span> match<\/span> levels<\/span> of<\/span> imports<\/span>. In<\/span> response<\/span> to a question from<\/span> Rai Hasan<\/span> Nawaz, Bhatti informed the House that the government has made<\/span> a<\/span> National Export Board comprising<\/span> representatives<\/span> from all four provinces and<\/span> responded<\/span> by<\/span> stating<\/span> that new policies are<\/span> being<\/span> made<\/span> on tariffs, e-commerce, and trade–<\/span>related<\/span> areas<\/span>.<\/p>\n

Bhatti further<\/span> confirmed<\/span> that there is<\/span> no decline in the country\u2019s textile exports, with<\/span> a mere<\/span> 9.3% increase. He<\/span> further<\/span> stated<\/span> that the only<\/span> impediment<\/span> was<\/span> that\u00a0the<\/span> steadily<\/span> increasing<\/span> electricity and gas prices have led to higher textile prices in the local market, adding that price control does not fall under their direct responsibility.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: Parliament was informed on Wednesday that the Prime Minister Shehbaz Sharif will soon announce a new textile policy, which will lead to the proposed 11% sales tax currently charged on locally produced cotton being abolished. Parliamentary Secretary Zulfiqar Ali Bhatti stated while responding to a question by Sharmila Faruqi while Parliament was in session, […]<\/p>\n","protected":false},"author":9,"featured_media":49933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[567,5415,28912],"class_list":["post-75135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-federal-board-of-revenue","tag-prime-minister-shehbaz-sharif","tag-textile-tax"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/75135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=75135"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/75135\/revisions"}],"predecessor-version":[{"id":75146,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/75135\/revisions\/75146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/49933"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=75135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=75135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=75135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}