KARACHI: Chairman APTMA Tariq Saud Thursday said the Zero Rating Sales Tax issue to five export oriented Textile sector has been twisted by some elements of the Federal Board of Revenue (FBR) which, instead of supporting the exporters, has created number of problems for them.
He told the “customnews.pk”. “The said agreement is being twisted by some elements which instead of helping smooth running of the textile industry and promoting exports, has brought it into a volatile situation and collapsing the industry to an imminent closure of the hole textile chain.”
Chairman APTMA praises the bold decision taken by Ishaq Dar, federal finance minister which resulted into reaching out an agreement with the representatives of 18 associations on Zero Rating of Sales Tax to five export oriented sector including textiles with consensus, in the presence of Advisor to the Prime Minister on Revenue, Haroon Akhtar Khan and Chairman, Federal Board of Revenue, Nisar Muhammad Khan.
Chairman APTMA expresses his full confidence on the dynamic leadership of Ishaq Dar as he is the man of word and honor, and urged him to intervene and make sure that the agreement made before the textile associations be implemented in letter and spirit in the best interest of the country as textile industry contributes about 60 percent in foreign exchange earnings through exports.