Pakistan's value-added textile industry has urged the government to implement the zero-rated regime immediately, rather than wait for the federal budget announcement in July 2016. It has also asked authorities to issue bonds related to Finance Minister Ishaq Dar's commitment to refund claims of exporters without any further delay. Pakistani newspapers have reported. Pakistan Readymade Garments Manufacturers and Exporters' Association (PRGMEA) Senior Vice Chairman Sohail A Sheikh and Chief

According to the ICAC, world ending cotton stocks are expected to decline 8 per cent to 20.4 million tons, which makes up for around 86 per cent of global cotton use in 2015/16. “This is the first reduction in world ending stocks since 2009/10,” ICAC informed in a press release. China's ending stocks are forecast to decrease by 7 per cent to 12 million tons, while ending stocks for the rest of the world are expected to decline by 9 per cent to 8.4 million tons. “However, this reduction

Japanese garment-textile companies began expanding their production in Vietnam after the Trans-Pacific Partnership (TPP) was approved. According to Nikkei Asian Review, Vietnam’s competitive advantage has been strengthened to become the world’s export center, attracting foreign investment flows, including those from Japan. Many manufacturers hope to have stronger motivation after the TPP, of which Vietnam is a member. Experts said that the TPP will help boost production and exports in

After the arrival of first liquefied natural gas (LNG) shipment from Qatar in Pakistan, the Sui Northern Gas Pipeline Limited has announced to start supplying gas to the textile industry in Punjab for 24 hours after a long period of about six years. Punjab textile mills, which were presently receiving gas just for four-six hours a day, started getting re-gasified liquid natural gas (RNLG) from Wednesday night at a cost of $6.66 per Million British Thermal Unit (MMBTU). The total demand of the

International Cotton Association leaders have said in view of growing consumption of cotton in Bangladesh the platform wants to provide wide range of mediation and training support for trade associations and individual mills to ensure safe trading under ICA bylaws. The future of textile industry in Bangladesh is bright and the ICA is in Bangladesh to strengthen the bonds between the association and Bangladeshi spinning and textile sectors as the country is now the second largest cotton import

Falling cotton prices attracted some buying from needy spinners on Wednesday, but overall sentiment remained devoid of enthusiasm due to uncertain global and domestic market situation. Floor brokers said that spinners were agitating against unbridled imports of heavily subsidised cotton yarn and fabric and were seeking a ban to save the domestic industry. However, the government, bogged down in other issues, seemed to have its own priorities with regard to economic development and growth,

Developer of spider silk based fibres Kraig Biocraft Laboratories has signed a cooperative agreement with a governmental entity in Vietnam to develop and produce its advanced silk technologies. “Under the terms of the agreement Kraig Labs has agreed to form a subsidiary company in Vietnam and to open an advanced hybrid silk research and pilot production operation,” Kraig informed in a press release. Kraig Labs has created an efficient method of producing high strength silks using its innov

The National Union of Textiles Garment and Tailoring Workers of Nigeria (NUTGTWN) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture ( NACCIMA) have rejected the lifting of import ban on textile products by the government, saying it was illegal and did not follow due process, the Nigerian media has reported. Earlier this week, the government through the Comptroller-General of the Nigeria Customs Service, (NCS), Alhaji Abdullahi Dikko had announced at the off

In order to boost raw jute production, the government has hiked the minimum support price (MSP) of raw jute by 18.5% to Rs 3,200 per quintal for 2016-17. A decision in this regard was taken in the meeting of the Cabinet, chaired by Prime Minister Narendra Modi in New Delhi. The Cabinet Committee on Economic Affairs approved the Agriculture Ministry's proposal on raising the MSP of raw jute to Rs 3,200 per quintal for 2016-17 from Rs 2,700 per quintal in the previous year. The decision is i

The garment manufacturing industry in Ludhiana unhappy with the third budget of the NDA government as it has imposed a two percent excise duty on branded readymade garments having retail price of over Rs1000, with an aim to bring in readymade garment manufacturers in the excise duty net but this will lead to increase in price of all branded garment by almost 1.8-2 percent. This move will be a setback to the micro-small and medium garment manufacturers who make branded garments for big garment