Pakistan Textile Exporters Association (PTEA) hailed the release of Rs 2 billion funds for Drawbacks on Local Taxes and Levies (DLTL), Export Financing Scheme and mark-up rates schemes and incentives, announced in Textile Policy (2009-14) and termed it a positive step towards export promotion.
In a press statement, Asghar Ali, Chairman and Muhammad Asif, Vice Chairman Pakistan Textile Exporters Association welcomed the Government's decision and demanded more funds for payment of DLTL pending claims. The said that different schemes under the Textile Policy including Textile Investment Support Fund, drawback of local taxes, refund of past Research and Development (R&D) claims and Export Financing Scheme were initiated in 2009 to boost textile exports. Government had announced DLTL Scheme under the first ever five-year Textile, setting USD 25 billion exports target in 5 years.
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