On behalf of the Five Export Oriented Sectors, we thank Federal Finance Minister, Muhammad Ishaq Dar and laud all his efforts and endeavours creating an environment for the betterment of the nation's economy and indeed grateful for grant of Zero Rating of Sales Tax on the Five Export Oriented Sectors vide SRO 491, which is also fulfillment of the promise of our Honourable Prime Minister, Mian Muhammad Nawaz Sharif, stated Muhammad Zubair Motiwala, Chairman, Council of All Pakistan Textile Associations and Muhammad Jawed Bilwani, Chairman, Pakistan Apparel Forum.
They said that this bold step of the Finance Minister will indeed provide the much needed relief to the exporters who were really burdened due to sales tax and severest ever liquidity crunch and were fighting a losing battle in the global market against stiff competition from competitors of regional countries and stated that this measure will surely go a long way in increasing the exports.
They also congratulated the Finance Minister for the achievement of the highest-ever tax collection target of Rs 3.104 trillion and increasing the foreign currency reserves to historic $23 billion and in bringing down record-low inflation at 2.8 percent and 42-year low interest rates which is the manifestation of great success. They articulated that they were surely grateful to the Finance Minister for understanding the issues and problems faced by the Textile Sector and were also confident that the issues relating to providing a level playing field to the exporters in terms of cost of energy, labour and local levies would also be resolved at the soonest to enable the exporters to really be able to compete in the global market with competitors in regional countries.
In consequence to these great achievements, the entire textile sector feels that the Honourable Finance Minister, Mr Muhammad Ishaq Dar with his team - Special Assistant to PM on Revenue, Mr Haroon Akhtar Khan and Chairman, FBR, Mr Nisar Muhammad Khan be honoured with a fitting reception in Karachi After Eid-ul-Fitr.-PR
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