PRGMEA for releasing ST refunds
Shaikh Mohammad Shafiq, chairman (central) of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), and Amir Amil Khotawala, chairman (south zone), have appreciated the initiatives of Prime Minister Imran Khan in announcing the relief package to tackle economic deceleration due to Covid-19.
They said that Rs200 billion was not enough for country's textile industry comprising small and medium enterprises, and that the government must release sales tax refunds.
They said that in the current scenario the country's exporters had orders from USA and Europe, but they were unable to oblige these orders because their funds were lying stuck.
Moreover, their remittances were pending with the buyers.
For that very reason they were unable to pay salaries to their workers from next month.
So a special relief package for the SMEs should be announced in which the entire cost of salaries/wages must be borne by the government.
This special relief package is the need of the hour which would certainly enable the SMEs sector to deal with this uncalled-for stress on their balance sheets, avoid layoffs and rescue many industrial units from going bankrupt.-PR
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