KARACHI: The readymade garments manufacturers have slammed the recent excessive increase in the shares of contribution by the Employees Old-age Benefit Institution (EOBI).
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) South Zone Acting Chairman Arshad Aziz, in a statement, said it is injustice that the EOBI has suddenly increased the EOBI shares of contribution with effect from July 1, 2012 to July 1, 2015.
“The minimum wage for Unskilled Workers Ordinance 1969 has been amended by the Minimum Wage for Unskilled Workers Amendment Act 2016, which is applicable only to Islamabad Capital Territory. A peculiar feature of this act is that the law has been given retrospective effect from 2012,” he added.
The textile industry, which is the backbone of the country and a job-creating sector, is already suffering due to billion of rupees that are stuck with the government on account of sales tax, duty drawbacks and drawbacks on local taxes and levies (DLTL), he said.
Moreover, he added that exports are decreasing fast and units are closing, and in this critical situation, EOBI notification with a liability of four years would tantamount the industry to jeopardise.
