The Commerce Ministry will ask the Central Board of Revenue (CBR) to resolve the problem pertaining to duty drawback regime on the export of PSF-based textile products by the textile industry. Commerce Minister Humayun Akhtar Khan assured this to exporters, while chairing a meeting on the concerns of the textile industry for maintaining their competitiveness in the post-quota era here on Thursday, an official statement said.
Commerce Secretary Tasneem Noorani and the representatives of Central Board of Revenue (CBR), All Pakistan Textile Mills Association (Aptma) and Pakistan Textile Exporters Association (PTEA) attended the meeting.
The exporters called for rationalisation of the duty drawback regime, particularly in the synthetic textile sector.
They also asked the CBR to announce duty drawback at least three months in advance to enable them to plan their future export transactions.
In the post-quota era beginning from January 1, 2005, the role of synthetic sector exports, particularly the downstream products, has vast opportunity for expansion, provided their exports are truly zero-rated through rationalised customs duty drawback regime.
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