The export-oriented industry, especially the value-added textile exporters, is facing serious financial crisis, as the present government has not issued a single installment of billions of rupees income tax and sales tax refunds stuck up with the Federal Board of Revenue. The Ferozepur Road Welfare Industrial Organization (FRWO) former chairman Adeeb Iqbal Sheikh appealed to the government to issue instructions to the FBR for releasing cheques against all the pending refund claims in order to

Jute exporters and spinners have alleged a section of traders has created an artificial crisis of raw jute amid lack of government monitoring. The exporters and spinners have said that they are facing raw jute crisis as a government directive regarding stocking and supply of the product is not being implemented properly that provides a section of traders with an opportunity to stock raw jute beyond permitted volume. In a meeting with the jute sector leaders on production and supply situation

The textile industry has asked the Centre to extend the 3% interest subvention for all textile products so as to enhance exports. C K Narayanasaami, Chairman, SIMA Cotton Development & Research Association and K Selvaraju, Secretary General, Southern India Mills' Association (SIMA) met the Commerce minister Nirmala Sitharaman during her visit to Coimbatore and handed over a 10 point memorandum with the industry's demands. The industry said it wants MEIS scheme benefits to be extended t

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has submitted the proposals to Prime Minister for bringing revolutionary changes for enhancing the export volume, said PRGMEA spokesperson Ijaz A Khokhar. Talking to Business Recorder on Sunday he said that PRGMEA had suggested that a permanent display centre "Pakistan Trade House" should be established in Dubai to enhancing the export of Pakistani products. At present, our value-added products are unable to fetch h

In an effort to make Sydney a global force in fashion, IMG has announced that its annual Mercedes-Benz Fashion Week Australia event will now take place in late May instead of April and will focus on resort collections. The aim of the shift in timing is to try and make Australian Fashion Week a global destination, which IMG says will “better serve” Australian fashion and its global audience. Previously the April showcase had focused on autumn/winter fashion, but the organisers are stating that

A Chinese mission is currently visiting Benin to help the country's cotton farmers increase their productivity, an official source in Cotonou told Xinhua on Tuesday. "Our objective is to improve Benin's cotton yield by introducing a Chinese cotton variety that gives 6 tons of cotton per hectare against a Beninese variety that produces less than 2 tons per hectare," head of the mission told Xinhua. He said besides introducing the Chinese cotton variety in Benin, the mission he leads will al

Nghi, speaking at a conference entitled "Garment and Textile – Opportunities and Challenges", focusing on integration and held in Ha Noi yesterday, Sept 30, that a shortage of capital and backwards technology, along with weak management capacities, had created difficulties for the businesses. He added that the development of Viet Nam's garment and textile industry was behind other countries. ‘This caused considerable competitive pressures in the local garment and textile industry after Vie

Cambodia agreed on Thursday to raise the monthly minimum wage for its crucial textiles sector to $140 from next year, short of demands by trade unions long at odds with the government over pay. The decision was made in a vote by representatives of the government, factories and unions, with the majority supporting an increase to $135 a month from $128. The government then raised that to $140. Pay for the 600,000 people who work in mostly Asian-owned factories, churning out clothes and shoes

The dollar's strength has meant bad news for America's apparel and footwear industry. According to Moody's Investors Service, the outlook for the US apparel and footwear industry has changed to stable from positive as sales and earnings took a hit from the stronger dollar. "While the hedges taken this year will partially protect margins, the strong US dollar will continue to have negative foreign currency translation effects on the industry's gross profits for the rest of this year," said Sco

With continuous depreciation of Zambian currency, textile makers are finding it too costly to import raw materials in Zambia as it would increase the cost of production, said Ajit Desai, managing director of Kariba Textiles. The blankets are manufactured by using materials like acrylic yarn and fibre, which are not produced in the local market thereby making it costly to manufacture blankets in Zambia, he said. Desai opined other investors to help in reducing the cost of producing blankets