{"id":189907,"date":"2021-05-03T12:23:46","date_gmt":"2021-05-03T07:23:46","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=189907"},"modified":"2021-05-03T15:24:50","modified_gmt":"2021-05-03T10:24:50","slug":"allocation-of-textile-parks-in-the-budget-will-make-industry-competitive","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/allocation-of-textile-parks-in-the-budget-will-make-industry-competitive\/","title":{"rendered":"\u2018Allocation of textile parks in the budget will make industry competitive\u2019"},"content":{"rendered":"<p>Lahore: President, Pakistan Businesses Forum (PBF) Sahibzada Usman Zulfiqar<br \/>\ndemanded to setting up of 5 mega textiles parks proposed in the budget 2021-22, saying<br \/>\nthis will make the industry globally competitive.<\/p>\n<p>In the budget proposals shared with presser on Monday, he said in the last year finance<br \/>\nbill textile industry had been completely ignored and deprived of relief.<\/p>\n<p>\u201cThere must be consistency in the policies and no way backs for quite some times for<br \/>\nthe long run growth and development while overnight shift in policies has also ways<br \/>\nbeen disadvantageous\u201d he remarked.<\/p>\n<p>He said Pakistan has a continuing balance of payments crisis and is being financed by<br \/>\nlocal and international borrowing. More debt piling or borrowing is not a feasible<br \/>\nsolution. Therefore, this challenge can be overcome only by increasing exports, he<br \/>\nstressed.<\/p>\n<p>PBF President further said the government through Finance Act 2013 had raised the<br \/>\ngeneral rate of minimum turnover tax under Section 113 of the Income Tax Ordinance<br \/>\n2001 to 1% from 0.5%, which was further increased to 1.5% through Finance Act, 2019<br \/>\nand we proposed the minimum turnover tax should be abolished for the coming year.<br \/>\nIndirect exporters may also be extended taxation regime available to direct exporters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: President, Pakistan Businesses Forum (PBF) Sahibzada Usman Zulfiqar demanded to setting up of 5 mega textiles parks proposed in the budget 2021-22, saying this will make the industry globally competitive. In the budget proposals shared with presser on Monday, he said in the last year finance bill textile industry had been completely ignored and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-189907","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018Allocation of textile parks in the budget will make industry competitive\u2019<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/allocation-of-textile-parks-in-the-budget-will-make-industry-competitive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Allocation of textile parks in the budget will make industry competitive\u2019\" \/>\n<meta property=\"og:description\" content=\"Lahore: President, Pakistan Businesses Forum (PBF) Sahibzada Usman Zulfiqar demanded to setting up of 5 mega textiles parks proposed in the budget 2021-22, saying this will make the industry globally competitive. In the budget proposals shared with presser on Monday, he said in the last year finance bill textile industry had been completely ignored and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/allocation-of-textile-parks-in-the-budget-will-make-industry-competitive\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-03T07:23:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-03T10:24:50+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" 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