Home / Knowledge / News / Textiles / 'Pak textile exports hit by liquidity crunch'
'Pak textile exports hit by liquidity crunch'
18
Mar '16
A liquidity crunch is badly hitting Pakistan's textile exports, Chairman of All Pakistan Textile Mills Association (APTMA) Tariq Saud has said.

According to Saud large manufacturers cum exporters are reeling under a liquidity crunch due to the pending sales tax refunds. Consequently, the manufacturing of exportable goods is being compromised heavily, he said.

He said the Ministry of Finance has announced liquidation of refunds up to Rs 5 million in cases where the Refund Payment Orders have been issued from March 15 to 30.

"This is a positive development and the textile industry is grateful to the Federal Finance Minister Ishaq Dar," he added.

But Saud insisted that it will not resolve the liquidity issues of major manufacturers cum exporters, each of whom has refunds outstanding up to Rs 500 million.

He has urged the Finance Minister and the Federal Board of Revenue (FBR) Chairman to make arrangements for clearance of those refunds. It would help them book and process export orders and take the industry out of a sluggish mode, he said. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search