LAHORE: All pending claims of the exporters including custom rebates, sales tax rebate should be released at the earliest.
This was stated by Muhammad Naseer Malik, Vice-Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), North Zone here on Monday.
Naseer Malik appreciated the government of Pakistan for announcing an ambitious textile policy for next five year 2014-19.
He said that it is the best policy under the present economic circumstances. He said that government seems determined to boost textile and clothing sector exports from $13 billion to $26 billion by 2019. However, keeping in view the energy crisis and other challenges, achieving this target requires extra ordinary efforts.
He lauded the government’s initiative to offer about Rs 64.15 billion cash subsidy to textile and clothing sector in the new textile policy and hoped that if implemented, this concession would help in improving textile exports.
However, he stressed the need for implementing the policy in letter and spirit if the required targets are to be achieved including a 100 percent increase in value addition from $1 billion per million bales to $2 billion per million bales in the next five years.
