‘Govt has released higher refunds to exporters’

Adviser to PM on revenue says economy in better shape than it was in 2013

LAHORE: Adviser to the Prime Minister on Revenue Haroon Akhtar Khan said on Saturday that the government has released higher refunds during the current fiscal year to ease the pressure on exporters, hoping that the increase in exports will accelerate in the coming months.

He was addressing a press conference after meeting leadership of the All Pakistan Textile Mills Association (Aptma).

Earlier, Khan, accompanied by senior members of the Federal Board of Revenue (FBR) and other officials of key departments, had a lengthy meeting with Aptma members to discuss issues hindering the growth of the textile sector.

Both sides discussed issues pertaining to sales tax refunds on deferred, current and rolled back Refund Payment Orders (RPOs), along with issues relating to imports of raw material by the basic textile industry.



The Aptma leadership reiterated that only the availability of internationally competitive energy, improvement of industrial liquidity through prompt payment of duty drawbacks, sales tax refunds and putting in place safeguards for the domestic textile industry against the entry of dumped, subsidised and undeclared yarns and fabrics from across the border will prevent the textile sector from collapsing.

“The government is determined to remove all obstacles faced by the exporting sector,” Akhtar said, adding that genuine demands of the textile industry have already been accepted as it is the main provider of industrial jobs in the country. He assured that in accordance with the export vision of Prime Minister Abbasi, the textile package would be implemented in letter and spirit.

However, Khan cautioned that no steps will be taken that would hurt the value added apparel sector which benefits from certain imports. The adviser to the PM claimed that corruption had been effectively curbed during the tenure of former Prime Minister Nawaz Sharif.

He conceded that the current account deficit is a serious problem which, he said, would be gradually addressed as the economy is now on a growth trajectory. He claimed that GDP growth would further increase this fiscal year.



“The economy in general is in a much better position than in 2013,” the adviser claimed, adding,“last year we achieved a growth rate of 5.3% and in this fiscal year we will further increase our GDP growth to 5.8%.”

Published in The Express Tribune, November 26^th, 2017.

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