Watchdog on textile policy implementation sets up

KARACHI (APP) - Federal Advisor on Textile and member of Prime Ministers newly constituted Business Persons Council (BPC), Dr. Mirza Ikhtiar Baig, held meeting with Federal Finance Minister Senator Shaukat Tarin in Islamabad for issuance of relevant SROs and notifications regarding incentives announced in the Textile Policy. The Finance Minister has formed a 5-member committee comprising Dr. Mirza Ikhtiar Baig, Bashir Ali Mohammad of Gul Ahmed Textiles and one representative each from FPCCI, Ministries of Textile and Finance, said an official statement from Dr. Baig here on Saturday. The very purpose of this committee is to expedite the implementation of new textile policy. Dr. Baig also met Chairman FBR and Member Customs in this regard. The Finance Minister promised Dr. Baig to pay balance 60pc R and D of the value added textile sector by the end of this month. Dr. Baig requested Textile associations to urgently send consolidated statement of R and D claims to Textile Commissioners Office Karachi as per their circular Tex/Com/12(34)/06-A latest by August 27, 2009. Dr. Baig also had a discussion with Deputy Governor SBP Yaseen Anwar regarding swapping of long-term loan of textile sector into SBP LTF scheme as announced in the Textile Policy.

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