Mian Adil Mehmood Senior Vice-Chairman All Pakistan Textile Mills Association (Aptma), Punjab Zone, while declaring federal budget 2004-05 as "Growth Oriented Budget" has said that it would leave positive impact on the overall economy of the country.
While talking to Business Recorder, he said that government has accepted outstanding demands of Aptma. He said that abolition of GST on ginned cotton and reduction of GST rate to 15 percent on polyester staple fibre would provide relief to textile exporters.
He said that reduction on withholding tax on imported machinery and cut in electricity tariff for industrial consumers would help the textile industry to increase its competitiveness in international market. Nevertheless, measures announced by the government would leave positive impact on country's textile exports.
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