According to a statement released by the Pakistan Tanners Association (PTA), the country's export-oriented leather industry is unhappy and has voiced its discontent over the Federal Budget 2011-12 recently announced by the Finance Minister.
Mr. Aziz Ahmed, Chairman of the PTA, said that no relief measures have been provided to the leather sector, the second largest foreign exchange generating sector of the country. This is in spite of the fact that the sector is facing issues like recurrent power cuts, inadequate supply of gas, and illegal imports of livestock.
“Leather industry and traders are discontented over absence of any provision for incentives for the sector in the budget to help them attract more investments and to boost sector's development and exports,” Mr. Aziz said.
He forewarned that if the Government fails to abolish the 17 percent sales tax imposed on plant and machinery on March 16, it would badly hit the export-oriented industry and may even stagnate the investments.
Fibre2fashion News Desk - India
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