Import of shuttle-less textile machines

Pakistan will try to attract global manufacturers of shuttleless textile machines through the proposed 10 year tax holiday to encourage them to set-up manufacturing units in Pakistan. The proposed initiatives of the Government would result in increase in textile exports by enhancing the production capacity of the textile sector.

In this regard, the Textile Ministry will approach global manufacturers of shuttleless machines for assessing their requirement in establishing their manufacturing units in Pakistan and their continued technological upgradation.

The proposed tax holidays for encouraging foreign investment in textile machinery manufacturing in the country are sugested as the textile machine manufacturers are relocating in China and it is the right time to attract machine manufacturing in Pakistan. Till now the import of textile machinery shares a big part of foreign currency outflow in annul trade bill.

To attract foreign investment in textile machinery manufacturing incentives, like zero rating for import of plant and equipment, tax holidays for initial 10 years, inclusion of their end-product in any future scheme designed to subsidize the import of textile machinery are being discussed.