Pak Minister assures relief to leather sector in Budget

30 May '12

2 min read

During a meeting with Pakistan Tanners Association (PTA), the Finance Minister of Pakistan, Dr. Abdul Hafeez Shaikh, said the Government is likely to announce some relief for the country's second largest export industry in the forthcoming Budget.

The Government would also consider imposing a ban on live stock export from the country, the Minister said.

The meeting was held to discuss measures to be introduced in the forthcoming Budget to help the leather industry of the country.

Dr. Shaikh said that in order to provide some relief to the domestic leather industry that is facing severe dearth of raw inputs, the Government is expected to raise export duty on wetblue in the forthcoming Budget.

Further, justifying the PTA's demand for a ban on export of live stock, the Minister assured that the matter would be seriously considered to safeguard the leather garment, sports goods, footwear, casing, tanning and poultry industries.

He said the Government would initiate proper steps to ensure maximum relief for the country's foreign exchange earning industry by facilitating it in the same manner as India and Bangladesh do for their leather industries.

The FBR Chairman also assured the PTA members that import duty will be reduced on basic inputs for the leather garment and tanning industry.

PTA Chairman SM Naseem, Federal Board of Revenue (FBR) Chairman Mumtaz Haider Rizvi, PTA former Chairmen Agha Saiddain and Khursheed Alam, were also present at the meeting.

Fibre2fashion News Desk - India

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