The major textile bodies including All Pakistan Textile Mills Association (APTMA) and Pakistan Hosiery Manufacturers Association (PHMA) have also urged the government to increase the speed for the disbursement of drawbacks under the PM export package, apart from seeking extension for the zero rating facility.
The government should reinstate the zero rating facility to help exporters from liquidity crisis, said PHMA Chairman Adil Butt, according to Pakistan media. On the contrary, the government has added to the exporters' woes by rolling back all sales tax refund payment orders.
"FBR wants to end the facility just to make its balance sheet correct. The balance sheet might show enhanced revenue collection but the industry would be collapsed if the 'no tax no refund' system is withdrawn, which is already not being implemented properly," said Butt.
Supporting the textile bodies' plea and encouraging investment, APTMA chairman Aamir Fayyaz also urged the government to not withdraw the zero rating regime. (RR)
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