Today a joint meeting of various textile associations was held with Abdul Razak Dawood Advisor to Prime Minister on Commerce, Investment and Textile to discuss various issues in Context of Federal Budget 2020-21. The meeting started with comments of Khawaja Muhammad Younus Chairman APBUMA and he appreciated the positive Role of Advisor which he played for promotion of exports and always being available to listen the concerns of value-added export sector. Later he requested Jamil Senior Vice Chairman to highlight the concerns of textile sector.
Bilal Jamil spoke on issues covering Zero Rating, Liquidity Crunch for SMEs due to Sales Tax, DDT Payments and budgetary allocation, Subsidized Electricity and RLNG for ZRI and approval of Textile Policy. SVC APBUMA specially raised the issue of arresting powers granted to ACs under section 203A. The SVC APBUMA suggested to Advisor to lead of delegation from all textile associations for a meeting with Minister of Finance to take on board with a detailed discussion on export promotion and facilitation from the country.
Shahzad Ahmad Member Executive Committee APBUMA diverted the attention of advisor on higher yarn prices in Pakistan as compared to neighboring country. Responding on the issues shared by APBUMA and other trade association, the advisor said as far as Zero Rating is concerned this issue needs a consensus among various ministries and departments and will try his best that some feasible outcome is reached. On DDT he said summary for payment of Rs.
10 billion is forwarded and hope will be disbursed in few day time.
He said that although budgetary allocation of DDT and ZRI incentive is Rs.
20 billion and Rs.26 billion but the export-oriented industry rest assured that they will get per their share in exports. He has suggested to Shoukat Tareen Minister Finance to allocate Rs.50 billion on DDT support for the year. On yarn prices, he commented that duty has been brought to zero and may be extended as required.
On introduction of section 203A he said will be omitted and considers it unjustifiable. He informed the participants that soon an automated system in line with Duty Payments is under progress and he soon will invite all association to provide details on that.
He expected that soon the DDT payments will be automated for direct payments in their accounts.
Responding on the proposal of SVC APBUMA, Abdul Razak Dawood said to meeting participants to get ready and he will call for a joint meeting with Minister Finance real soon. The meeting was concluded with a vote of thanks from Chairman APBUMA Khawaja Muhammad Younus.
