Due to the misuse of Duty & Tax Remission for Export (DTRE) facility, the public exchequer is facing a loss of Rs 250 million per year. Moreover during the period of January 2011 to September 2011, 5174-ton paper was imported by using this facility and was misused.
President All Pakistan Paper Merchants Association (North) Zone Khamis Saeed Butt said this while talking to Business Recorder on Thursday. He demanded that government should stop the misuse of DTRE facility other wise the commercial import will completely be stopped. Khamis said that they had raised the issue with the Chief Commissioner Inland Revenue Fizza Muzaffar in their meeting with her on Thursday.
He said that APPMA delegation discussed with her the problems faced by commercial importers due to the industrial and copy book import. She assured full co-operation to APPMA for solving their problems. He also said that they had also written a letter to chairman Federal Board of Revenue in this regard.
Khamis said that the misuse of DTRE facility is increasing day by day and some organisations are actively selling of their imports in the open market and creating problems. He also said that large size printers and packaging companies benefited by misusing this facility and improve their cash flows. Khamis also condemned the increase in the prices of paper by local manufactures by Rs 7000 per ton. He also alleged that local mill owners were involved in under invoicing.