China eager to promote textile machinery in Pakistan (Pakistan)

A delegation of China Textile Machine Manufacturers (CTMTC) met Dr. Mirza Ikhtiar Baig, Federal Advisor on Textile, Government of Pakistan, to discuss prospects of promoting Chinese textile machinery in Pakistan.

 

The delegation headed by Eric Ying Yi also articulated interest in buying cotton yarn and fabric from Pakistan and offered their Global Marketing Network to Pakistani exporters to enable them better market their products.

 

Dr. Baig informed the delegation head that Pakistan Government has removed all custom duty and taxes on textile machinery imports and is offering funds for import of value added textile machinery at concessional interest rates.

 

Moreover, the Pakistan Government has recently sanctioned Pk Rs. 60 billion under the Technology Upgradation Fund (TUGF) to aid the textile industry and attract new investments in the country’s textile sector. 

 

Also, he said, the new Trade Framework 2012 has fixed a target of exporting US$ 20 billion worth of textiles by 2015, which shows the Government’s determination for supporting and facilitating Pakistani textile sector.

 

Aiming to offer Chinese textile machinery to leading textile groups, the delegation would also visit Lahore, besides Karachi.

 

CTMTC would be presenting some of the most cost-effective and latest textile machineries at the forthcoming IGATEX Exhibition slated to be held in Lahore in mid-October.