MULTAN: All Pakistan Bedsheets Upholstery Manufacturing Association (APBUMA) has expressed grave concern over the unavailability of cotton yarn and non-payment of duty drawback of taxes and income tax refunds. All Pakistan Bed sheets Upholstery Manufacturing Association (APBUMA) urged the government to accord immediate remedial measures.
APBUMA Chairman Syed Muhammad Asim Shah said that crisis has almost disrupted the exports cycle while the textile industry has become economically unviable due to escalating prices on the back of short crop. Our liquidity had already taken a strong negative hit since the Covid-19 pandemic, he added. With low production, country needs to import cotton in an effort to bridge the demand-supply gap. APBUMA Chairman Syed Muhammad Asim Shah expressed concern over undue delay in disbursement of exporters’ duty drawback of taxes and income tax refunds of over Rs50 million.
Our liquidity had already taken a strong negative hit since the Covid-19 pandemic, he added.
