Daily The Business

APTMA again foresees doubling textile exports

Syed Ali Ahsan urges govt to end post budget uncertainty 

Special Correspondent

LAHORE: Like the past textile industry leadership again foresees to
enhance textile exports to a double as All Pakistan Textile Mills
Association (APTMA) Chairman Syed Ali Ahsan has said that the industry
envisages increasing textile and clothing exports from US$ 13.5
billion to US$ 25 billion in next 5 years if enabling environment is
ensured by the government.

He was addressing a press conference on Monday afternoon.
Patron-in-Chief APTMA Gohar Ejaz was also present on the occasion.
The APTMA Chairman Syed Ali Ahsan urged the government to end post
budget uncertainty, which is adversely impacting production,
employment and exports in the country.
While highlighting the situation on ground in the wake of withdrawal
of zero rating (SRO 1125) for five exporting industries, he said sales
/ transaction in the local market are at halt, supply chain of the
industry has disrupted, stocks are being piled up, liquidity crunch is
forcing closure of mills that is translating into massive unemployment
and export orders are not being finalized.
He urged the government to issue notifications effective 1st July,
2019 for energy (gas and electricity) price for the five exporting
sectors, ensure rapid refund mechanism for exports (95 % refunds to be
paid on filing of Return), remove input tax invalidity condition in
case of non-verification of CNIC of buyer, bring down rate of sales
tax to 7.5% and withholding tax at 4 % of local sales and 5 ½% on
Imports (unjustly increased due to withdrawal of SRO 1125) to 1%,
withdraw 3% additional sales tax on machinery imports and ensure level
playing field all across textile value chain, whether imports or local
sales.
He said the textile industry envisages to increase textile and
clothing exports from US$ 13.5 billion to US$ 25 billion in next 5
years if enabling environment is ensured by the government.
Speaking on the occasion, Patron-in-Chief APTMA Gohar Ejaz said
closing down of industrial units means that the economic wheel in the
country has come to a halt. What FBR has imposed seems good only in
books, but not in practice, he added.
He said the textile industry was not in favour of strike but still it
demands from the government to consult it before changing the tax
regime. He said exports can only be increased if there is new industry
in the there is no doubt that a country cannot run without taxes but
the government should also give patient hearing to the industry
demands.
He urged Prime Minister Imran Khan to intervene and ensure smooth
economic activity and enable industry to operate and undertake new
investment initiatives in the country.

Leave A Reply

Your email address will not be published.