Tax refund: ‘Exporters yet to get Rs72b’
The initiatives taken under the national textile policy have remained unimplemented.
FAISALABAD:
As the finance ministry has failed to pay Rs72 billion of tax refunds to exporters, the initiatives taken under the national textile policy have remained unimplemented, said Shahid Rashid, Secretary of the Ministry of Textile Industry here on Monday. Talking to the industrialists, Rashid said that over the last two years the textile ministry had the target to disburse Rs89 billion in duty drawback, but the finance ministry released only Rs17.25 billion in these two years due to scarcity of funds. He said as soon as the finance ministry released the funds, the textile ministry would clear arrears of the exporters. He said non-availability of funds had even resulted in non-implementation of export-oriented initiatives.
Published in The Express Tribune, October 11th, 2011.
As the finance ministry has failed to pay Rs72 billion of tax refunds to exporters, the initiatives taken under the national textile policy have remained unimplemented, said Shahid Rashid, Secretary of the Ministry of Textile Industry here on Monday. Talking to the industrialists, Rashid said that over the last two years the textile ministry had the target to disburse Rs89 billion in duty drawback, but the finance ministry released only Rs17.25 billion in these two years due to scarcity of funds. He said as soon as the finance ministry released the funds, the textile ministry would clear arrears of the exporters. He said non-availability of funds had even resulted in non-implementation of export-oriented initiatives.
Published in The Express Tribune, October 11th, 2011.