“The industry will reject any such move if introduced in the budget,” he said.
The All Pakistan Textile Mills Association (APTMA) has reiterated its appeal to the government to save the textile industry in order to ensure the country's economic growth.
In a statement, APTMA Chairman Tariq Saud said the financials of the listed companies in the textile sector for the first 9 months of the current fiscal year suggest that the#
The APTMA chairman said the government has not yet released refunds of Sales Tax and 5 per cent DLTL against exports of the entire textile chain including yarn. The theft surcharge and GIDC levied on the textile industry have not yet been withdrawn.
Saud also said the input cost of cotton farmers should be reduced to encourage cotton production and an immediate withdrawal of sales and import duty on cotton import.
He said the whole textile value chain should be zero rated in the budget as over 80 per cent of all fibers consumed are exported in one form or the other. (SH)
ALCHEMPro News Desk – India
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