Refund of duty drawback: Punjab leather exporters short on funds
Malik said that numerous meetings with collectors yielded no results
Pakistan is leading in leather products, compared to the world, both in terms of technology and quality. PHOTO: FILE
LAHORE:
Punjab leather exporters, especially in Lahore and Multan, are facing a crisis due to complete stoppage of duty drawback claims cheques. Pakistan Tanners’ Association (Northern Zone) Chairman Azam Malik said that exporters in Lahore and Multan have been badly hit by liquidity crisis, which is worsening due to their funds being held up. Respective collectorates are unable to release pending cheques against sanctioned claims of duty drawback. Malik said that numerous meetings with collectors yielded no results. Installation of expensive online web-based clearing systems could not enable the Federal Board of Revenue to expeditiously release exporters’ money, which is now being held up in the wait of meeting the so-called ‘revenue targets’, the association chairman added.
Published in The Express Tribune, February 27th, 2017.
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Punjab leather exporters, especially in Lahore and Multan, are facing a crisis due to complete stoppage of duty drawback claims cheques. Pakistan Tanners’ Association (Northern Zone) Chairman Azam Malik said that exporters in Lahore and Multan have been badly hit by liquidity crisis, which is worsening due to their funds being held up. Respective collectorates are unable to release pending cheques against sanctioned claims of duty drawback. Malik said that numerous meetings with collectors yielded no results. Installation of expensive online web-based clearing systems could not enable the Federal Board of Revenue to expeditiously release exporters’ money, which is now being held up in the wait of meeting the so-called ‘revenue targets’, the association chairman added.
Published in The Express Tribune, February 27th, 2017.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.