New textile package on the cards

Published: May 10, 2018
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Chawla presented a comprehensive report on budget anomalies and demanded that genuine discrepancies must be redressed and resolved in the final draft of the federal finance bill. PHOTO: FILE

Chawla presented a comprehensive report on budget anomalies and demanded that genuine discrepancies must be redressed and resolved in the final draft of the federal finance bill. PHOTO: FILE

FAISALABAD: Prime Minister Shahid Khaqan Abassi has assured that the new textile package will be announced within the next couple of days.

Talking to Faisalabad Chamber of Commerce and Industry (FCCI) President Shabbir Hussain Chawla and other business leaders, he said that the government is already trying its best to clear the pending refund claims and hopefully, the issue would be resolved this month.

Regarding the huge difference in the gas tariff between Punjab and other provinces, he said that the federal government is bound under the 18th Amendment.

The premier asked businessmen to contact the chief minister of Punjab as he could bridge the difference in tariff with a special grant from provincial resources. Commenting on the gas infrastructure development cess, he said that efforts are already being made to settle the issue without any unnecessary delay.

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Chawla presented a comprehensive report on budget anomalies and demanded that genuine discrepancies must be redressed and resolved in the final draft of the federal finance bill.

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He mentioned the widening trade deficit, and said that in order to increase exports maximum facilities should be offered. He also identified disparities between industrial and commercial importers and said that the same facilities should be offered to commercial importers as they are also contributing their role in enhancing value added textile exports.

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The withholding tax on cash withdrawal from banks by filers should also be reduced further, he said, adding further tax should be trimmed in addition to eliminating regulatory duty on the import of chemicals for the textile sector.

Published in The Express Tribune, May 10th, 2018.

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