Exporters also fear about fate of other refunds of income tax, customs rebate, duty drawback as Govt. still has not released billions of rupees, GOP must clear refunds in one go or reduce GST from 17% to 4% or restore Zero-Rating reinstating SRO 1125

Textile Exporters are annoyed and distressed in the wake of highest ever liquidity crunch being faced due to imposition of 17 percent GST whose refunds are excessively delayed by the Government without any justification which has caused hurdles in export production. Anti-Export moves of the Government in the hands of… Continue reading

Textile exporters urged the Prime Minister to restore the “zero-rating on sales tax -No Payment No Refund Regime”

The textile exporters have urged the Prime Minister to restore the “zero-rating on sales tax – “No Payment No Refund Regime” by revival of SRO 1125” for the export-oriented sector. The textile exporters said due to the withdrawal of zero-rating, the entire textile industry has suffered a severe setback, with… Continue reading

AHMED CHINOY SAID THE GOVERNMENT SHOULD SUPPORT THE TEXTILE INDUSTRY BY REMOVING MAJOR HINDRANCES IDENTIFIES BY THE TEXTILE INDUSTRY

Ahmed Chinoy Chairman of Pakistan Cloth Merchants Association requested the Government to remove major hindrances which are identified by the Textile Industry in the upcoming budget 2020-21. He said the Textile Industries have potential to uplift the economy if the Government of Pakistan provide them level playing field and support… Continue reading

In budget GOP must act upon the suggestions of Textile Exporters instead of Financial Managers whose unrealistic advisories were flopped in FY2019-20 

Government’s Economists & Financial Managers expertise and knowledge have failed due to lack of practical exposure towards the industry and businesses as well as recession caused by pandemic like COVID19. The unrealistic and inconsequential measures taken in the last budget have brought devastating effects on the Value-Added Textile Export Industry… Continue reading

PCDMA calls for restoring fixed tax regime, SRO 1125

Karachi: Pakistan Chemicals and Dyes Merchants Association (PCDMA) urged the government to restore fixed tax regime (FTR) and SRO 1125 in the best economic interest of the country so that trade and industry can be saved from complete destruction due to ongoing COVID-19 pandemic. Amin Yousuf Balgamwala, Chairman PCDMA, in… Continue reading

Restoration of Zero Rating on Sales Tax – No Payment No Refund is indispensible to resolve liquidity problem of exporters: PDMEA

To resolve liquidity problem of exporters, restoration of Zero Rating on Sales Tax – No Payment No Refund Regime reinstating SRO 1125 is highly indispensible. The current volume of Pakistan exports cannot unsurpassed unless the burning liquidity problem being faced by exporters is not addressed by the Government. To achieve… Continue reading

Readymade garments manufacturers & exporters demand immediate tax refunds, restoration of SRO 1125

KARACHI: Shaikh Shafiq Jhokwala, Chairman (Central) and Amir Amin Kothawala, Chairman (South Zone),  Pakistan Readymade Garments Manufacturers & Exporters have stated that the value added textile export sector has reached to the edge of disaster due to severest ever liquidity crisis in the history of Pakistan caused due to imposition… Continue reading

Motiwala demands restoration of zero-rated facility for export sectors

KARACHI: Patron of SITE Association of Industry Zubair Motiwala has once again drew the attention of the federal government towards the difficulties being faced due to inability of fully automated sales tax refund system (FASTER) by Five Zero Rated Export Sectors namely Value Added Textile, Sports Goods, Surgical goods, Leather… Continue reading

PHMA REQUEST FOR RELEASE OF OLD DEFERRED SALES TAX REFUND & INCOME TAX REFUND CLAIMS AND RESTORATION OF RATING OF SALES TAX – NO PAYMENT NO REFUND REGIME

Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government’s initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in this most difficult times, PHMA also requests for release of old deferred sales tax refund & income tax refund claims… Continue reading

FBR advises Inland Revenue to facilitate exporters avail utilities at reduced rates

KARACHI: The Federal Board of Revenue (FBR) has advised all chief commissioners of Inland Revenue to facilitate the exporters by issuing necessary confirmation to the utility providers for according preferential/reduced rate tariffs to genuine exporters. FBR had earlier requested distribution companies (DISCOs) and gas provider companies to independently accord preferential… Continue reading