Business

Textile exporters demand refund payments

Textile exporters are currently deprived of cash - a situation which can be mended if the govt releases stuck refunds

Our Correspondent March 10, 2017

PHOTO: EXPRESS

FAISALABAD: Pakistan Textile Exporters Association (PTEA) Chairman Ajmal Farooq demanded that the government immediately release refunds to the country’s textile exporters following the recent cash flow crunch the industry is facing.

Textile exporters are currently deprived of cash - a situation which can be mended if the government releases stuck refunds.

Due to this, the sector is confronting a cash flow crisis, hampering its ability to continue conducting business.

“We are deprived of liquidity and under such financial stress, achieving target to boost exports appears to be a herculean task,” said PTEA chairman. “We are unable to tap our potential in accordance with the capacity. Continuous decline in exports would spell trouble for the economy, especially considering that the trade deficit is continuing to widen.”

Published in The Express Tribune, March 10^th, 2017.

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COMMENTS (1)

Hasan.Khan | 7 years ago | Reply This non issuance of refunds is now a very serious problem and is leading to severe cash flow issues in organised textile sector. FBR is responsible for holding back the refunds to show increased tax collections.Textile industry is being damaged at the altar of FBR inefficiency

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