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Standing Committee asks for sales tax refund at earliest
21
Jul '17
The Standing Committee on textile industry has asked the Federal Board of Revenue for release of sales tax refund at the earliest. Pakistan textile industry is facing financial crisis due to delay in release of tax refund of around Rs 300 billion. The committee has asked the government for implementation of policies to improve exports of the industry.

The exports of the textiles and apparel sector contribute majorly in the country's revenue generation. In a meeting of the Standing Committee chaired by Khawaja Ghulam Rasool Koreja, order has been given for monthly report of the implementation of Rs 180 billion exports package announced by the prime minister, according to Pakistan media reports.

Upset over the shutdown of around 30 to 40 per cent of the textile industry in the country owing to high tariffs of power, gas rates and wages, the committee has demanded for reduction in the charges of basic infrastructure facilities. Nominal pricing will allow Pakistan to compete in the international market, the committee said. Non-availability of the basic infrastructure facilities in the textile industry has led to trade deficit between import and export. (RR)

Fibre2Fashion News Desk – India


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