Chairman All Pakistan Textile Mills Association (APTMA) Tariq Saud has praised the bold decision taken by Finance Minister Muhammad Ishaq Dar under the leadership of Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif, which resulted into reaching out an agreement with the representatives of 18 associations on Zero Rating of Sales Tax to five export oriented sector including textiles with consensus, in the presence of Advisor to the Prime Minister on Revenue Haroon Akhtar Khan and Chairman Federal Board of Revenue Nisar Muhammad Khan.
Tariq Saud said that however, it is regretful that the said agreement is being twisted by some elements which instead of helping smooth running of the textile industry and promoting exports, has brought it into a volatile situation and collapsing the industry to an imminent closure of the hole textile chain.
The chairman APTMA expressed his full confidence in Finance Minister Muhammad Ishaq Dar and said that the minister will honour his words. He also urged the minister finance to intervene and make sure that the agreement made before the textile associations should be implemented in letter & spirit in the best interest of the country as the textile industry contributes about 60 percent in foreign exchange earnings through exports.