Textile & Garments

Karachi: Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has shown its sheer concern over the implementation of EU Package from Pakistan from January 2012 with caps on some items. Central Chairman PRGMEA, Mr. Shehzad Salim while showing his dismay over the reports that the EU Trade Concessions Package for …

Karachi: Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz has welcomed appointment of Governor State Bank of Pakistan (SBP) Yasin Anwar and expressed the hope that a capable person like him can overcome the issues affecting monetary policy matters. He said the Governor SBP has already took a prudent …

Karachi: Mr. Mohsin Aziz, Chairman, All Pakistan Textile Mills Association (APTMA) commenting on the decision of the government to observe two weekly holidays to overcome increasing electricity shortfall said, that the first test will be if the saving is converted into reduced load-shedding and the subject saving is provided to …

Karachi: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the rating assigned to the Rs 1.385 billion Sukuk of Quetta Textile Mills Limited (QTML) at ‘BBB+’ (Triple B Plus). Outlook on the rating is ‘Stable’. Rating takes into account the improved results posted by QTML in FY11 despite high cotton …

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained long term and short term entity ratings of Fazal Cloth Mills Limited (FCML) at ‘A-‘ (single A minus) and ‘A2’ (A Two), respectively. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of …

Islamabad: Sri Lanka to allocate importation of entire basmati rice quota to private sector from 2012 Pakistan to remove crude coconut oil from their No Concessions list. The Secretarial Level Meeting and talks between Pakistan and Sri Lanka on the bilateral Free Trade Agreement (FTA) in Colombo were concluded on …

Islamabad: On the request of Pakistan Cotton Ginners Association, the Prime Minister Syed Yusuf Raza Gilani has directed Federal Board of Revenue (FBR) to exempt growers from levy of 3.5% withholding tax. Withholding tax will now be deducted from Commission agents by the Ginners and deposited in the government treasury. …