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PHMA urges govt to rollback 2% sales tax on textiles
06
Apr '13
The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has urged the Government to rollback the two percent sales tax imposed on the domestic textile sector, which till recently enjoyed zero-tax status, as the measure would not benefit the country’s economy.
 
Speaking at a meeting, PHMA vice chairman Syed Zia Alamdar Hussain said the decision to impose two percent sales tax was taken by the Government without taking the industry stakeholders into confidence.
 
The statutory regulatory orders (SROs) issued by the Federal Board of Revenue (FBR) are totally impractical and unviable and they would not result in increased tax collection, he added.
 
Mr. Hussain said the present caretaker Government has not initiated any steps to aid recovery of the economy, and if it remains reluctant to address the issues, it would lead to large scale redundancy.
 
Besides the levy of two percent sales tax, the meeting also discussed issues like impulsive power and gas outages.
 
Mr. Hussain said the preceding Government, which caused the textile units to endure 16 hours power outages per day, has caused irreversible damage to the domestic industry.
 
In spite of its commitment to provide five day per week gas supply during summer, the Government directed the authorities to supply gas for just three days per week, he said.
 
The PHMA members said that in view of the prevailing policies and situation, it has become difficult for entrepreneurs to survive in business in Pakistan, which is forcing entrepreneurs to consider relocating to other countries.
 

Fibre2fashion News Desk - India


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