Advisor on Commerce Abdul Razak Dawood is reportedly seeking zero rating for entire textile chain in the Textile and Apparel Policy 2020-25 to be considered by the ECC today 6th Jan’21. The Ministry of Commerce, has proposed $ 900Bn incentives for the textile chain in five years. Tariff structure of entire textile and apparel chain including MMF and cotton based value-chains will be rationalized on priority followed by accessories and dyes and chemicals. Custom duty drawback rate of textile and apparel products will be reviewed taking into account additional customs and regulatory duties. Temporary importation schemes will be simplified in perspective of SMEs.
6/1/2021