Zero-rated regimes to help boost Pakistani value added textile industry

YarnsandFibers News Bureau 2016-06-06 13:00:00 – Islamabad

The Pakistan Government has provided all its possible support to ensure inclusive growth and employment generation in five export oriented industries including the value added textile industry and boost Pakistani export.

Shaikh Mohammad Shafiq, central chairman, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), has said that PRGMEA's members are very thankful to Finance Minister, Senator Mohammad Ishaq Dar for the announcement of the zero-rated regimes - No Payment No Refund, for five export-oriented sector, i.e. value-added textile, carpet, surgical, sports goods and leather.

He further said that Prime Minister Nawaz Sharif already committed to declare all the export-oriented industries zero rated in the next budget. They pray for his perfect health and speedy recuperation.

In order to get maximum results (i.e, 20 percent to 25 percent increase), the government should immediate release stuck up refund payments against sales tax, duty drawback and drawback on local taxes and levies (DLTL) as well as brought down tariff of electricity, gas and water for export and give incentives on export as per our competitors countries.

This decision was taken in a meeting, held on May 29, 2016 at Islamabad, all leaders of the five export-oriented industries were there including Special Assistant to Prime Minister on Revenue, Haroon Akhtar Khan, Chairman FBR, Nisar Mohammad Khan and other senior officials of the Ministry of Finance and the FBR attended the meeting.

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