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News Clips 21 October, 2015


 
 
 
 


[ Consignments" processing: documents attested by exporters made mandatory requirement ]
[ Regulatory duty on imported yarn rejected ]
[ Textile package: PBEA sees no incentive for value-added sector ]

Consignments" processing: documents attested by exporters made mandatory requirement   [ top ]

Business Recorder, October 21, 2015
Customs department has decided to process export consignments, if relevant documents are attested by exporters; it was learnt here on Tuesday. According to sources, the department through a notice made the submission of documents attested by exporters mandatory for processing export consignments. The decision was made after observing that the clearing agents or his authorised persons pretended his innocence when any document was found fake or forged during post release verification. 

Sources said clearing agents or his authorised persons gave a rationale that they had submitted the documents whichever provided by the exporter and they were unaware of any forgery or tampering therein. Therefore, the clearing agents have been directed to get all relevant documents attested from exporters with the undertaking regarding the accuracy of the documents. 

Sources said that the decision would help the department to fix the responsibility in case of detecting fake and forged documents during assessment. "In absence of such undertaking or attestation, it would be construed that clearing agents is in league and collusion with the exporters to circumvent the Export Policy Order 2013 and all other allied prevailing laws and regulations thereof and legal action shall be taken against both - clearing agents as well along with exporters," notice said. 

Meanwhile, sources in response to a question said that customs department had decided to put his house in order hence the entry of clearing agents or authorised persons in the premises of customs department and port areas was now subjected to the permit/smart card issued by the association that would lead to restrict the movement of unauthorised persons. 

Regulatory duty on imported yarn rejected   [ top ]

Business Recorder, October 21, 2015
"Yarn prices in domestic market had increased Rs 500 to Rs 1000 per bag after the imposiition of regulatory duty on imported yarn." This was stated in a meeting of value-added textile sector held at Faisalabad Chamber of Commerce and Industry (FCCI), here on Tuesday. 

President FCCI Chaudhary Muhammad Nawaz chaired the meeting which was attended by the office-bearers of Pakistan Hosiery Manufacturers Association (PHMA), All Pakistan Textile Processing Mills Association (APTPMA) and other related associations. The meeting rejected the imposition of regulatory duty on imported yarn and warned that textile sector may start protest if this decision will not be reversed. 

Amjad Khawaja of PHMA said that regulatory duty will badly hurt overall textile exports. He said that it seems that APTMA wants to create artificial shortage of yarn in domestic market to increase the prices of yarn exorbitantly. The meeting was told that in 2010 APTMA adopted that same strategy when the yarn bag of Rs 10,000 was sold in Rs RS 26,000. President FCCI said that textile sector fully endorse the demands of APTMA excluding the regulatory duty. He said that we shared the common problems of electricity loadshedding, high cost of electricity, refund problems and taxation related issues. On these problems we will support APTMA but the decision to impose regulatory duty is not accepted. He reiterated his previous demand that government should immediately withdraw this decision and convene a roundtable conference inviting all stakeholders of the textile sector to evolve a common strategy to resolve this crisis. 

Textile package: PBEA sees no incentive for value-added sector   [ top ]

Business Recorder, October 21, 2015
RECORDER REPORT Pakistan Bedwear Exporters Association (PBEA) on Tuesday said that there was nothing for the value-added sector in the textile package announced by Finance Minister Ishaq Dar. PBEA chairman Shabbir Ahmed said that the so-called package would not have a positive impact on the falling exports. He asked the government to take serious and drastic steps towards increasing exports and employment generation. 

"Our refunds are stuck up with FBR due to which the domestic industry is facing hardships," he added. He demanded of the government to immediately withdraw export cess of 0.25 percent, which was being charged on all exports. Shabbir said that highest the bedwear exports registered highest increase in 2006, after which the exports were on continuous decline.-PR