Official urges end to uncertainty

Published: July 16, 2019
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PHOTO: MASOOD TEXTILE MILLS

PHOTO: MASOOD TEXTILE MILLS

LAHORE: The government should end post-budget uncertainty, which is adversely impacting production, employment and exports of the country, said All Pakistan Textile Mills Association (Aptma) Chairman Syed Ali Ahsan. Addressing a press conference on Monday he said that due to withdrawal of zero rating (SRO 1,125) for five export-oriented sectors, sales in local market were at a halt, supply chain had disrupted and stocks were being piled up. He urged the government to issue notifications effective July 1, 2019 for energy (gas and electricity) prices for the five exporting sectors, ensure rapid refund mechanism for exports (95% refunds to be paid on filing of return) and remove input tax invalidity condition in case of non-verification of CNIC of buyer. He pointed out that textile industry envisaged to increase textile and clothing exports from $13.5 billion to $25 billion in the next five years if enabling environment was ensured by the government.

Published in The Express Tribune, July 16th, 2019.

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