The All Pakistan Textile Mills Association (APTMA) recently urged the government to settle more than Rs 100 billion in outstanding sales tax refunds that have resulted in a serious liquidity crunch for manufacturers and exporters. Chairman Ali Ahsan said current and deferred sales tax refunds are pending at various offices, mainly due to cross-matching of invoices. The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) also echoed similar sentiments in a released statement. Ahsa

Courtesy: Messe Frankfurt TexprocessTexprocess 2019 will display latest technology for textile processing. The international trade fair presenting machinery and methods for the processing of textile and flexible materials will be held from May 14-17, 2019, at Messe Frankfurt, Germany. Visitors from the fashion and clothing industry, upholstered- furniture manufacturers will visit the show. With exhibitors currently from some 29 countries, Texprocess will be showing the whole range of textile

The number of UK retailers entering into Company Voluntary Arrangements (CVAs) has increased by 52 per cent, from 25 in 2017 as against to 38 in 2018, according to Deloitte’s latest insolvency figures. While, the number of retailers entering into administration in 2018 was registered at 125 as compared to 118 in 2017, a marginal increase of 6 per cent. "Notwithstanding the increase in overall retail insolvencies, we have seen a significant increase in large retail insolvencies and CVAs in the

Courtesy: CCL IndustriesCCL Industries Inc, a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, has acquired Easy2Name Limited (E2N) for its Avery business. E2N, a direct-to-consumer online digital business, is a manufacturer of durable, personalised kids’ labels for the UK market. The sales of CCL in 2018 amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million.

Terming the new e-commerce rules in India ‘regressive’, the US-India Strategic Partnership Forum (USISPF) recently said the changes would harm consumers, create unpredictability and negatively affect the growth of online retail. The Confederation of All India Traders (CAIT), however, strongly criticised the USISPF for making ‘uncalled for’ statements on the issue. Asserting that it is not the government's business to micromanage businesses, USISPF alleged the amendments announced came out wi

The Ghana government's decision to zero-rate Value-Added Tax (VAT) on the supply of locally manufactured textiles for three years is a boost to the industry. Albeit the policy is likely to cost the government around GH¢40.1 million annually, the announcement is a respite to the people dealing in the textiles business, awaiting the tax exemption since long. Reducing the cost of production, the local textile industry will grow gradually, thus increasing employment opportunities in the country,

Courtesy: ATIRAAhmedabad Textile Industry’s Research Association (ATIRA) received ‘Special Recognition in Textile Sector’ award in the category – Technical Textiles. The award was given at an event held in Delhi on January 5, 2019. ATIRA director MN Subramanian received the award on behalf of the organisation from Union minister of textiles Smriti Irani. “ATIRA’s efforts in composites have resulted in innovations such as low cost toilets, jute composite, cotton composites, GFRP, KFRP, CFRP co

Courtesy: Messe FrankfurtYarn Expo, known for diversity of suppliers with visitors able to meet all their sourcing needs in one place, will feature around 50 prominent yarn suppliers from all around the world in the Fancy Yarn Zone. The expo, to be held during March 12-14 in Shanghai, can supply industry buyers all kinds of synthetic, fancy and specialty yarns and chemical fibres. Meanwhile, high-quality natural yarns and fibres can also easily be found, including high-end European linen and

Welcoming Prime Minister Imran Khan’s efforts to provide affordable power to textile units, the All Pakistan Textile Mills Association (APTMA) has urged him to chair regular textile industry meetings to monitor policy implementation and performance in investment and exports. The industry is committed to earning $30 billion in exports, patron-in-chief Gohar Ejaz said. The textile industry wants to undertake new investment initiatives and create millions of sustainable jobs, Ejaz said. The

The Cotton Textiles Export Promotion Council (TEXPROCIL) has welcomed the decision of the Cabinet Committee on Economic Affairs for including merchant exporters under the Interest Equalisation Scheme (IES) for pre and post shipment rupee export credit. However, it has urged the government to include cotton yarn under the scheme to encourage its exports. “This will significantly reduce the cost of finance for the merchant exporters who contribute substantially towards textiles exports and make