Pakistan Hosiery Manufacturers and Exporters Association (PHMA) on Tuesday requested the government to release old refunds of the textile exporters to ease the continuing liquidity crunch. The association also lauded the government's initiative for speeding up refunds to exporters.
"However, in order to ease and facilitate exporters liquidity problems in this most difficult time, the PHMA also requests release of old deferred sales tax refund and income tax refund claims of textile exporters," Chairman of PHMA, Chaudhry Salamat Ali, said. He said that the timely intervention by Prime Minister Imran Khan has rescued the export-oriented industries.
Members have approached the association to seek relief over supply chain disruptions. Moreover, their export orders cannot be completed if their vendors and allied industry were not permitted to resume businesses.
"Therefore, the PHMA requests the government to also allow allied industries to operate during the lockdown to provide our export industry relevant materials and supplies enabling them to complete our export orders. In this connection, the allied industry is willing to fulfill all the procedural requirements, compliance of SOPs and provision of undertaking in this regard," Salamat said.
In order to provide permanent relief to the exporters and ease their hardships in terms of liquidity crunch that surfaced from the imposition of the 17 percent sales tax, the government should consider restoration of zero-rating of sales tax and the no-payment-no-refund regime and the SRO 1125 may be revived, he added.
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