August 29, 2006	Tuesday	Sha'aban 4, 1427

KARACHI, Aug 28: The State Bank has issued notification allowing home textiles and cloth manufacturing to avail the research and development (R&D) support. The ministry of textile industry had issued a SRO on August 4, 2006, carrying information that the government had decided to allow R&D support to the home textiles and dyed or printed cloth manufacturing-cum-exporting units with effect from July 1, 2006.

The said R&D support would be provided in accordance with the Pakistan Customs Tariff at the specified rate of FOB value of exports.

The rate for dyed or printed fabrics (under chapters 52 & 55) will be three per cent, home textiles (under chapters 63 & 94) white three per cent and dyed or printed five per cent.

The SBP circular said that all kinds of towels (unstitched) were not admissible for the said R&D support.