Home / Knowledge / News / Textiles / Unpaid drawback claims affects Pakistani textile exporters
Unpaid drawback claims affects Pakistani textile exporters
29
Nov '11
The Pakistan Textile Exporters Association (PTEA) has claimed that working capital of the country's textile exporters' worth about PKR 25 billion is blocked under several duty drawback schemes, which is affecting the country's exports and is also causing a negative effect on the nation's economy.

After the end of quota system in textile trade, exporters were provided with research and development facilities in order to help them enhance their exports. However, the facility was suspended after a couple of years in 2008, following which some refund claims are still lying unpaid, which is causing the exporters to suffer financial crisis and is also hampering their business flow as their working capital remains blocked.

Meanwhile, with a view to help the textile exporters, the present Government introduced another drawback of local taxes and levies (DLTL) scheme under its Textile Policy in 2009. The scheme met with positive response from the side of exporters and the country's overall exports surged above US$ 24 billion, while textile exports jumped above US$ 13 billion.

However, the drawback facility as promised under the scheme was not honoured fully and just 14.67 percent of the claims submitted by the exporters have been paid till now, due to which considerable amount of working capital of the exporters is still blocked with the Government.

Thus, while on one hand the working capital of exporters is getting blocked in Government's duty drawback schemes, the cost of production is also going up with each passing day on the other. The twin affect is rendering the Pakistan textile industry's exports unviable on global front, PTEA said.

Fibre2fashion News Desk - India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search