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Govt urged to clear pending R&D claims
28
Oct '10
The government has been requested to instantly clear the pending 60 percent Research and Development (R&D) claims for 2008-09 and to give directions to the banks not to ask for mark-ups on loans granted in 2009.

The inconsistent policies of the government and its failure to fulfill the promises for clearing unreasonably held payments of exporters have exerted serious pressures on the garment sector.

The government has still not cleared the four-year pending sales tax dues to the garment exporters, apart from the Research & Development (R&D) funding. The worldwide economic slowdown had severely affected the labor-intensive textile industry.

The government had maintained a safe distance from the actual problems of the industry. This attitude of the government is unlike the timely measures taken by the governments of India, Bangladesh and China, which took immediate measures to announce incentives for their textile industries when the global financial crisis had put their exports in danger.

The passive attitude adopted by the government did not allow Pakistan to harness the benefit of its low labor cost, which was even less than the labor costs in India, Sri Lanka, Indonesia and China. The garment sector in Bangladesh and Cambodia has wages which are lower than the wages in Pakistan.

Fibre2fashion News Desk-India


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