ISLAMABAD (Staff Report) – Federal Finance Minister Ishaq Dar is expected to announce a relief package for textile industry on Saturday during a meeting with the delegation of All Pakistan Textile Mills Association (APTMA) in Islamabad.
The minister had announced that a relief package will be approved for textile industry with in two days after APTMA boycotted a meeting on Thursday.
Chairman APTMA Punjab Amir Fayyaz said that he hopes this time the government would come up with an attractive package to rescue the rapidly declining exports of textile industry. He said the spinners particularly want Pakistan to match import duty on yarn as is levied by India on Pakistani yarn up to 28 percent.
To a question, APTMA chairman suggested the government to facilitate value-added sector through DTRE Scheme.
The complications in DTRE Scheme should be removed so that value-added sector can avail this facility easily.
APTMA has been demanding for the withdrawal of electricity surcharge; removal of gas infrastructure development cess (GIDC); zero rating of local taxes on textile exports; adding of spinning industry in the long-term finance facility (LTFF); three per cent tax on unregistered buyers instead of two percent; rebate on focus market exports; strengthening of domestic market and clearance of all pending claims by the FBR.