AGL 38.40 Increased By ▲ 0.24 (0.63%)
AIRLINK 134.25 Increased By ▲ 0.06 (0.04%)
BOP 9.05 Increased By ▲ 0.20 (2.26%)
CNERGY 4.71 Increased By ▲ 0.02 (0.43%)
DCL 8.72 Increased By ▲ 0.05 (0.58%)
DFML 39.85 Increased By ▲ 0.07 (0.18%)
DGKC 84.99 Decreased By ▼ -0.16 (-0.19%)
FCCL 34.87 Decreased By ▼ -0.03 (-0.09%)
FFBL 75.50 Decreased By ▼ -0.10 (-0.13%)
FFL 12.65 Decreased By ▼ -0.09 (-0.71%)
HUBC 109.55 Increased By ▲ 0.10 (0.09%)
HUMNL 14.02 Decreased By ▼ -0.08 (-0.57%)
KEL 5.43 Increased By ▲ 0.03 (0.56%)
KOSM 8.16 Increased By ▲ 0.41 (5.29%)
MLCF 40.87 Decreased By ▼ -0.50 (-1.21%)
NBP 70.60 Increased By ▲ 0.90 (1.29%)
OGDC 191.52 Decreased By ▼ -2.10 (-1.08%)
PAEL 26.00 Decreased By ▼ -0.21 (-0.8%)
PIBTL 7.50 Increased By ▲ 0.08 (1.08%)
PPL 162.50 Decreased By ▼ -1.35 (-0.82%)
PRL 26.40 Increased By ▲ 0.04 (0.15%)
PTC 19.77 Increased By ▲ 0.30 (1.54%)
SEARL 87.00 Increased By ▲ 2.60 (3.08%)
TELE 8.00 Increased By ▲ 0.01 (0.13%)
TOMCL 34.15 Increased By ▲ 0.10 (0.29%)
TPLP 9.19 Increased By ▲ 0.47 (5.39%)
TREET 17.18 No Change ▼ 0.00 (0%)
TRG 60.42 Decreased By ▼ -0.58 (-0.95%)
UNITY 29.50 Increased By ▲ 0.54 (1.86%)
WTL 1.36 Decreased By ▼ -0.01 (-0.73%)
BR100 10,739 Decreased By -37.1 (-0.34%)
BR30 32,168 Decreased By -66.3 (-0.21%)
KSE100 100,154 Increased By 71.1 (0.07%)
KSE30 31,144 Decreased By -49 (-0.16%)

All Pakistan Textile Association (APTMA) Chairman Tariq Saud Monday appreciated timely decision of the federal government to reintroduce 'Zero Rating or No-Tax and No-Refund Regime' for the textile sector - the largest export oriented sector and contributes more than 55 percent of foreign exchange earnings through exports.
On behalf of textile sector, he thanked Prime Minister Nawaz Sharif, Finance Minister & Economic Affairs, Haroon Akhtar Khan Special Assistant to the Prime Minister Ishaq Dar and FBR Chairman Nisar Muhammad Khan for acceptance the longstanding demand of APTMA to restore zero rating of raw materials exclusively used by the industry for the manufacturing of products which will be a step forward for the development and growth of export-oriented textile industry.
He also especially appreciated the role of Ishaq Dar for realising the issue and taking a concrete step for the revival of the textile industry which will work well and boost exports. He further said that the application of sales tax regime at the rate of zero-percent on export-oriented sectors, including textiles from 2016-17 wherein the entire supply chain would be subjected to zero-rating regime would take away the issue of refunds and resolve liquidity problems both for the industry and its buyers.
A delegation led by Chairman APTMA Tariq Saud also participated in a meeting of the textile value chain held with Finance Minister on Sunday in Islamabad to present the case. Haroon Akhtar Khan Special Assistant to the Prime Minister on Revenue and Chairman FBR were also present in the meeting. The Finance Minister also assured the team of considering other recommendations of APTMA for the restoration of viability of the industry for export boost.

Copyright Business Recorder, 2016

Comments

Comments are closed.