Mr Aamir Fayyaz, Chairman APTMA appealed the government to notify zero rating facility of sales tax on import of machinery without any further delay.
The outgoing Cabinet has already approved the issuance of the SRO and only the notification of the same is pending.
The facility expired since 30th June and 200 containers of machinery imported for investment and BMR in green field projects are stranded at the custom ports and are incurring unjust demurrages.
The government had extended zero rating facility of sales tax on machinery, not manufactured locally, if imported by the textile industrial units registered with Ministry of Textile Industry, as specified in part IV of 5th schedule to the Customs Act 1959, subject to same conditions as specified therein, at zero percent sales tax, effective from 16th Jan 2017 until 30th June 2018.
Chairman APTMA said, “The SRO should have been issued by the previous government, or immediately after by the interim government, enabling the industry to install machinery for upgrading and further production.
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