The Pakistan Government has resolved to refund the taxes collected from the textile exporters in the name of old age benefit and social security, so as to aid and boost textile exports from the country.
The Government has even come up with a new system for the purpose, Shahid Rashid, Secretary Textile Industry said.
During a meeting with textile exporters at Pakistan Textile Exporters Association (PTEA), he said the Government is well aware about the issues confronting the textile industry as well as about the significance of the textile industry for the country.
Further, he cited textile industry as backbone of the country's economy, but lamented that owing to financial constraints the Government fell short of implementing the textile policy in its true spirit.
The Finance Ministry has been urged to release funds for the textile industry, under heads like duty drawbacks, he added.
During the meeting, PTEA Chairman Rana Arif Tauseef presented a detailed view of the issues and barriers coming in the way of textile industry and exports.
Fibre2fashion News Desk - India
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