10 Billion Rupees For Clothing And Textiles In Pakistan As A Subsidy
The federal government of Pakistan has allocated a budget of 10 billion rupees for the fiscal year 2010-11 export Investment Support Fund (EISF). The fund allocated 40 billion rupees in fiscal year 2009-10, but due to financial constraints, 2010-11 of the funding was narrowed. The fund is used to provide loan interest for export refinancing, export rebates for fabrics, household textiles and garments.
Due to fiscal constraints, the EISF plan allocated 10 billion rupees this year, less than 40 billion rupees last year.
The money will be used in the 5 year national textile policy of the value-added textile industry, and the expansion of exports, including the TUGF, will pay 2.5% interest for different export refinancing loans, 1% of fabric export rebates, 2% of home textile export rebates, and 3% of clothing export tax rebates.
If exports increase by 15% over the previous year, exporters are entitled to 1% of the additional tax rebates.
The National Bank of Pakistan allows the new factories and machines that import value added to enjoy preferential loans because the imported second-hand machinery is convenient to expire today.
But the L/Cs before June 30, 2010 still qualifies for preferential loans.
In addition, the government also encourages overseas export promotion offices, which can be used for wages and rental housing.
The Palestinian Trade Development Council (TDAP) is hosting the famous Moscow International Textile Fair, 12-24 September 2010, in Russia.
In addition, textile enterprises and exporters' delegations will be organized to visit the international procurement offices in the United States.
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