Wednesday July 17, 2024

Bedsheet makers threaten protest if final tax regime not reinstated by 17th

By Our Correspondent
July 10, 2024
A representational image showing an employee working at a textile factory in Karachi. — AFP/File
A representational image showing an employee working at a textile factory in Karachi. — AFP/File

FAISALABAD: The All Pakistan Bedsheets and Upholstery Manufacturers Association (APBUMA) has announced a protest if the final tax regime is not reinstated by July 17.

APBUMA Senior Vice Chairman Farooq Khan, addressing a meeting, stated that the government would be solely responsible for the consequences of the protest movement starting immediately after Ashura. He criticised the government and other political parties for approving a tax-heavy budget that has disappointed every sector of society. Khan warned that failing to reinstate the 1% final tax regime for exporters would open the doors to corruption.

Former Central Chairman of the Association, Arif Ihsan Malik, along with other senior leaders including Engineer Muhammad Bilal Jamil, Shehzad Hussain, Muhammad Tayyab, and Shehzad Ahmed, urged Prime Minister Shehbaz Sharif to take action to save the textile sector. They emphasised that timely intervention is crucial to protecting the livelihoods of millions and securing foreign exchange.

NICF PROPELS 63 TECH STARTUPS IN A SHORT PERIOD: The National Incubation Centre Faisalabad (NICF), established in 2022, has quickly become a powerhouse in Pakistan’s startup ecosystem. Dedicated to fostering innovation and spurring economic development, NIC Faisalabad has supported 63 startups across four cohorts, focusing primarily on tech-driven


NIC Faisalabad offers a comprehensive year-long program that includes a vibrant co-working space, legal advice, access to experienced professionals, investment opportunities, and personalized coaching.

This programme is meticulously designed to help startups thrive in the competitive tech industry. A standout initiative by NIC Faisalabad is ‘SheVentures’, aimed at empowering women entrepreneurs. This tailored program equips women with essential digital and financial literacy skills, enabling those with brilliant ideas but limited experience to succeed. NIC Faisalabad has also built a robust network of national and international partners, offering startups access to mentorship, knowledge, and technology.

This global network provides invaluable opportunities, helping startups penetrate new markets and attract investors. Applications for Cohort 5 are now open.

SHOP EMPLOYEE INJURED IN ROBBERS’ SHOOTING: In a robbery incident in the area of Thikriwala police station, robbers opened fire, injuring an employee of a chicken shop. According to the police, three armed robbers on motorcycles attempted a robbery at Owais’s chicken wholesale shop at Adda Saddar. During the robbery attempt, shop employee Danish was severely injured by the robbers’ gunfire. In response, the market security guard fired back, injuring two of the robbers. The police set up checkpoints to search for the escaped robber but were unable to apprehend him.