PTEA demands ST refunds, zero-rating on exports

The Pakistan Textile Exporters Association urged immediate intervention of the government for release of huge amounts of textile exporters stuck up in refund regimes and for allowing zero-rating on textile exports.
PTEA Chairman Sheikh Ilyas Mehmood along with Vice Chairman Adil Tahir termed liquidity crunch a major hurdle in export promotion. Textile industry is facing unprecedented crises since many years and consequently, sizeable textile capacity had been severely impaired, he added.
“Textile exports in quantity and value terms could not gain momentum and remained below the bar. Now status has brought the hope of significant jump in textile exports but lack of necessary funds could hurt the outcomes of this duty waiver relief,” he said. He termed withdrawal of zero rating and imposition of 2% sales tax on supplies detrimental to the business activities.
He said that 85 percent of textile produce is exported in one or the other form, with only 15 percent left for local consumption. Therefore, zero-rating of the entire value chain for the export is imperative to remain competitive in the international market.
Sheikh Ilyas claimed that finance was imperative to run the wheel of industry and to tap the GSP Plus status. Government should set its priorities right and accord preferential treatment to textile sector to get full advantages of duty waiver facility for EU and save the industry and the economy, he said.
He termed the status a golden opportunity beneficial for textile sector. He said that the facility will help bring back precious investment in textile industry that had shifted out of Pakistan to set up manufacturing units to the countries enjoying GSP Plus status. He demanded release of funds for payment of exporters’ refunds. He pledged efforts in harvesting the advantages of GSP plus but conditioned it with payment of refund claims, uninterrupted supply of energy and tax reliefs.
PRAISED: Faisalabad Institute of Cardiology provided 268,048 heart patients with medical facility while 720 patients underwent cardiac surgeries during the last 6 years, said an official. During his visit to the institute, Divisional Commissioner Sardar Akram Javed was informed this by Executive Director Dr Raja Parvaiz Akhtar.
The latter said that during the corresponding period, angiography of 5,403 patients and angioplasty of 1,197 patients were done in the institution. Giving details of different medical treatment facilities available there, he said that the institution was registered with Punjab Medical & Dental Council and affiliated with University of Health Sciences Lahore and College of Physicians & Surgeons of Pakistan.

ePaper - Nawaiwaqt