Razak assures APTMA of resolving power tariff issue

A delegation of All Pakistan Textile Mills Association (APTMA) led by its Chairman met with the Advisor to the Prime Minister on Commerce, Industries & Production and Investment, Razak Dawood Wednesday.

The meeting was also attended by the Secretary, Commerce Division. The Chairman APTMA in his opening remarks thanked the Advisor to the Prime Minister for releasing Rs17.6 billion in various drawback schemes pertaining to textiles value chain. The textiles sector especially paid tribute to the efforts of the Secretary, Commerce Division for working on weekends to release the Rs17.6 billion on fast track basis. The textile sector especially appreciated the Secretary, Commerce for releasing funds of drawback scheme of 2009-11.

The APTMA also appreciated that 2nd Phase of China-Pakistan Free Trade Agreement would commence from January 1, 2020 and added that it has opened a valuable opportunity to boost the textile exports to China.

The Advisor heard the issues pointed out by the APTMA, importantly, the issue of quarterly charges on electricity and said that on priority a meeting with the Prime Minister would be arranged possibly early next week for early resolution of the matter.

The Advisor to the Prime Minister said that the government is cognizant of the issues being faced by the industry and appreciated that FBR has fully cooperating with the exporters to simplify the form-H of SRO918.

The Advisor asked the textiles value chain to fully cooperate with the Ministry of Commerce for formulation of 3rd Textiles Policy to address long standing issues of the textile value chain and urged that SMEs should be given the priority.

He also said that out of box approach may be considered for various taxes imposed by various federal and provincial organizations and also that credit availability and technology upgradation should be the focus of the policy.

The Secretary, Commerce Division also apprised that the Ministry would soon issue the necessary Memorandum to give special status of export oriented sectors to textile, leather, carpet, sports and surgical goods, this would resolve the all important issue of reduced RLNG and electricity rates for these sectors. -PR