Abdul Razak Dawood, Adviser to Prime Minister for Commerce and Textile, has said that the government had offered up to Rs100 billion packages to the industrial sector as a support following current challenging situation, created due to COVID- 19 pandemic.
“We are continuously in contact with all major industrial sectors, including textiles and construction.
With consultation of all stakeholders, the government would give incentive to the priority areas of industrial sector for revival in current critical situation,” Razaq Dawood told APP here.
The government wanted to resolve the liquidity issue of industrial sector, he said adding that Drawback of Local Taxes and Levies (DLTL) payments would be made, which were pending since 2009. The adviser said the government would pay Technology upgradation fund worth Rs 30 billion to the industrial sector to help it come out from the current challenge of COVID- 19 Coronavirus pandemic.
He informed that total Rs 47 billion would be paid to the textiles sector in coming 100 days to support the major export sector of the country. Replying to a question, he said the government would pay all the refunds including in Rs 200 billion packages to compensate the industrial sector in coming Budget 2020-21.
He said that this package would be paid at faster pace to the industries, adding that all the stakeholders were on board with the government to evolve joint strategy to resolve all the issues of industrial sector in current situation.
He said that promoting industries and giving incentives to the business community was an important step to leading the country forward.
The commerce ministry has also prepared a list of industries which could be reopened in the current situation, he said. The adviser said the refund of Rs100 billion for the business community is a part of that process and the government was committed to ensure timely refunds to the business community in this challenging situation.
