KARACHI: Representing the textile industrialists, All Pakistan Textile Mills Association (Aptma) Chairman Tariq Saud has lauded the government’s decision to reintroduce zero-rating tax regime for the export-oriented textile industry.
Tariq Saud, in a statement, especially thanked to Prime Minister Nawaz Sharif, Finance Minister Ishaq Dar and Chief Minister Shahbaz Sharif for taking this important decision. He further appreciated the approval for release of Rs 5 million refunds to claimants, for which refund payment orders have already been issued and checks are awaited.
He said these initiatives would greatly help manage liquidity issues. However, he added that the textile industry was currently facing serious viability issues that are needed to be addressed through implementation of the textile industry package, which contains implementation of announcement of reducing electricity tariff by Rs 3/KWh through slashing the surcharges levied on the base tariff to bring tariff for industry at Rs 9/KWH that is at par with the region.
In order to save the export-oriented textile industry of the country, imposition of GIDC should be taken away from the industry completely, he said, adding that the textile industry has also demanded provision of DLTL at 5% against the export of yarns, fabrics, made-ups and garments to compensate against incidentals of carousel types of levies, surcharges and taxes.
“Position of regulatory duty on the dumped/subsidised import of synthetic yarns and fabrics entering to Pakistani commerce meant for domestic consumption,” he added.
Tariq Saud said an immediate intervention is required to check the surge in the import of synthetic yarn and fabric in domestic market, adding that the government should immediately impose regulatory duty on synthetic yarns and fabrics made of polyester, viscose and acrylic to secure the right to domestic industry on domestic commerce.
