PHMA stresses boosting exports

The Pakistan Hosiery Manufacturers Association (PHMA) has called for promoting industrialisation and enhancing exports through lowering cost of production, paying early refunds to solve liquidity crunch and relaxing import policy for industrial raw material. PHMA zonal chairman Faisal Mehboob Sheikh and chief coordinator Adil Butt, in a joint statement, stressed the need for revival of SRO 1125, reintroducing the system of ‘no payment no refund of sales tax’ for the five export-oriented sectors. “All stuck up claims of exporters; customs rebates, sale tax rebates should be released, as the liquidity crunch is a major stumbling block in the way of improving exports,” they said. Sheikh said the economic scenario has totally changed due to the coronavirus pandemic and its impact on the industrial sector is now visible in the country.

Published in The Express Tribune, October 30^th, 2020.

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