According to industry experts,
Pakistan is one of the emerging countries in basic textiles. This recent news
shows the door of opportunity for those, who want to start their business in
the current epoch. Now the question that may arise in your mind is that which
textile product you should prefer to start a business. Here you still need to
consult recent trends. According to updates, the best is to start exporting
cotton
yarn from Pakistan. Do you know why?
There are two major reasons behind this preference, which are somehow
interconnected. First of all, you need to know that Pakistan origin yarn is of fine quality, which is why there is a
great demand for this textile product in the international market. Latest news
is that cotton yarn exports have amazingly increased by 41.6 percent and the value
of these exports has also gone up by 32%. Because of this immense need, the
best is to start working as cotton yarnexporter. Thus, to start the cotton
yarn factory, here are few concerns, which you must keep in your mind:
Register your company
The first step to start working as a yarnexporter requires the registration of
your company. Keep in mind that it is one of the most essential things to do in
order to start any business in Pakistan. You can register the company on your
own and can also hire the services of any lawyer. The recommended approach is
to hire the services of any lawyer, because in Pakistan, the registration of
companies requires lengthy paperwork.
Get NTN and Sales tax Number
The next important thing is to get NTN
and Sales Tax Number. Keep in mind that you will neither be able to get custom
clearance nor payment if you will not have NTN and Sales Tax Number. For this
purpose, you will have to contact FBR Pakistan. The best part is that now you
can forward your request online, as FBR Pakistan is now facilitating its
visitors online.
Payment concerns
It is vital to understand that when
you will be exporting cotton yarn from Pakistan, you will have to deal with payments as well and for
this, a bank account will be required. Contact any professional bank and open
an account with the title of your company name. Another option can be of letter
of credit, as your client may also send you L/C instead of cash payment. The
need is just to visit the bank, as from there you will be able to get the
complete guidance.
Deal with customs and shipping
Here the recommended approach is to
hire any reliable and professional shipping agent if you do not want to face
the hassle related to visiting port or standing in shipping line to send your
shipment. Conduct various meetings with professional freight forwarders and
select the best one that suits your needs. If you will take all required steps
carefully then there is no doubt that soon you will become the best cotton Yarn
exporter of Pakistan.
