30 C
Lahore
Friday, March 29, 2024

Fund release under PM’s package

The textile industry of Pakistan has requested the PM of Pakistan Nawaz Shareef and Finance Minister Ishaq Dar to release the disbursement funds for the duty drawbacks for exports against the realisation of the export proceeds, besides paying refunds of sales tax to the exporters against the already issued RPOs to save the industry from the liquidity crisis.

The chairman of APTMA, Mr. Amir Fayaz, in a joint press conference said that the drawback of taxes, as announced by the prime minister against the realisation of exports should be processed immediately. Further, it was said that the FBR has exercised the unjust tricks to delay the refund amount to the exporters for the tax period of 2016-17. Said was that, such situation can cause liquidity crunch to the manufacturers and exporters for further export deals.

According to the chairman of PHMA; “Benefit of GSP Plus move from the European Union had been virtually nullified due to our in-competitiveness as compared with Bangladesh, India, Sri Lanka and China.”

While addressing the press conference the former chairman of PRGMEA, Sajid Minhas said that; “the government was losing its credibility with respect to commitments it has made repeatedly to the industry and exporters.” Though late the suggested steps will be helpful for the textile sector and help it to be competitive in the international market by lowering the cost of productions.

Related Articles

Stay Connected

11,285FansLike
394FollowersFollow
9,170SubscribersSubscribe

Latest Articles