Interviews
Value-added textile exporters facing immense issues
26 May '11
1 min read
The value-added textile exporters in Pakistan are facing multiple problems on various fronts. They have pleaded for help from the Government and have asked it to direct the State Bank of Pakistan (SBP) to stop troubling them unnecessarily.
The exporters are feeling a sense of harassment by the SBP as the country does not have a bankruptcy law.
The SBP, in its endeavour to bring back export proceeds of failed shipments, often ends up pressurising genuine exporters, they said.
A huge amount of working capital of the exporters is being blocked in duty drawback, R&D, DLTL, sales tax, stoppage of export refinance on non-repatriation of exports proceeds, and non-issuance of circular by SBP on 2.5 percent rebate on interest on export finance, they added.
These exporters also complained about erratic power supply and gas load shedding.
The exporters are feeling a sense of harassment by the SBP as the country does not have a bankruptcy law.
The SBP, in its endeavour to bring back export proceeds of failed shipments, often ends up pressurising genuine exporters, they said.
A huge amount of working capital of the exporters is being blocked in duty drawback, R&D, DLTL, sales tax, stoppage of export refinance on non-repatriation of exports proceeds, and non-issuance of circular by SBP on 2.5 percent rebate on interest on export finance, they added.
These exporters also complained about erratic power supply and gas load shedding.
Fibre2fashion News Desk - India
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