Textile sector: PRGMEA lauds zero-rated tax policy
Competition with countries, like Vietnam, Bangladesh and China, is proving to be difficult for Pakistani exporters.
ISLAMABAD:
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) central chairman Shaikh Mohammad Shafiq on Wednesday said that PRGMEA has warmly welcomed the zero rated sales tax policy for the country’s five export sectors, including value-added textile, carpet, surgical, sports goods and leather. In a statement, he said that despite prior budget announcement Finance Minister Ishaq Dar and Chairman FBR did not issue any notification for zero-rating of the five export sectors. Currently, exporters are experiencing technical difficulties getting zero rating exemption as the custom authorities are not cooperating with the exporters. Additionally, a large number of export consignments have been withheld by exporters. Competition with countries, like Vietnam, Bangladesh and China, is proving to be difficult for Pakistani exporters.
Published in The Express Tribune, June 16th, 2016.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ