ISLAMABAD: Federal Board of Revenue (FBR) issued Rs28 billion refunds to textile sector in last 18 months; however, no refunds have been issued to textile sector during the current fiscal year 2018-19, it is learnt here.
Sources told Customs Today that during last six months around Rs9 billion of duty exempted on the import of textile material. Meanwhile, the government announced facilities for the textile sector till 2021 under the Duty Drawback of Tax Order 2018-2021.
Sources further added that the government also provided duty exemption on import of machinery for the textile industry, where the industry imported around $90 million of duty free machinery for the textile industry.
It is important to mention here that the previous government had approved additional net package of Rs51 billion for providing cash support and slashing down electricity tariff for boosting the country’s exports during next three years with the aims to improve the competitiveness of the textile and non-textile export sector to continue the export growth in the coming financial years.
