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PTA decries move to re-impose sales tax on electricity & gas
03
Mar '09
While commenting on reports that Federal Board of Revenue (FBR) may discontinue zero rating sales tax on electricity and gas bills of five leading export sectors including leather sector, Mr Agha Saiddain, Chairman, Pakistan Tanners Association (PTA) said, “Leather exports have dipped 20.03 percent and 35 percent from annual targets, which is a indicator of the dismal situation of the leather industry”.

He said, “The full scale of crisis is yet to unfold and we are expecting a dip of 40 percent, which can send this second largest sector of the country in to a tailspin and we have suggested to the government to provide us a level playing field, but to no avail”. Giving comparisons he said, the government of India has given Rs 9,130 million to the leather sector in the 11th five year plan while China has given incentive packages.

He insisted the government to release incentive packages for the leather sector, on the lines of those given to this sector by India and China and added by saying that if a level playing field was created with its major competing countries, exports could double from the US $1.22 billion achieved in the last fiscal (2007-08) in three years and it was also possible to touch $5 billion in ten years.

He mentioned that already 200,000 people had lost their jobs from the leather sector and if the government does not act fast, this sector which is the second highest export revenue generator after textiles would be in for bad days.

Fibre2fashion News Desk - India

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