APTMA urges China to invest in Pakistan's textile sector

Aamir Fayyaz, chairman of the All Pakistan Textile Mills Association (APTMA) urged the Chinese textile sector to invest in Pakistan by setting up joint ventures with Pakistani entrepreneurs or by relocating their facilities to Pakistan. He said the Chinese investors could take advantage of the duty free market access under the GSP+ facility.

"Fayyaz was addressing a delegation of textile companies from Tianjin city of China in the APTMA Punjab office," Pakistan media reported.

He also pointed to the incentives provided to textile value added exporters by the government recently, which include provision of DLTL at 4 per cent on yarn and gray fabric, 5 per cent on processed fabric, 6 per cent on textile made ups and 7 per cent on apparels against export realisation.

Fayyaz also added that Pakistan's foreign investment policy allows zero per cent duty on imports of capital goods, zero per cent corporate income tax rate and 10 years corporate income tax holiday among various other subsidies.