Pakistani textile exporters seek to expand tax rebate mechanism
Pakistan’s textile exporters believe that if the duty refund mechanism is not extended beyond June and the outstanding claims are not resolved immediately, then their exports may fall sharply.
President Latif and Vice President Ellah of the Pakistan Textile Exporters Association said that rising production costs are the core problem faced by textile exporters under the current difficult economic conditions. The withdrawal of the tax rebate mechanism will have a negative impact on exports. bring negative impact.
In the Textile Policy 2009-14, the Indian government announced a customs duty rebate scheme, among other incentives. Textile producers say this will lead to good results leading to sustained growth in exports of value-added textile products over the past two years.
They said that the government had promised to maintain the tax rebate mechanism until the end of this textile policy, but the government did not mention it in the budget for this fiscal year.
Facing fierce competition in the international market, Pakistani textiles strive to maintain their position. Textile exporters pointed out that the Ministry of Textiles had requested an allocation of Rs 4,000 crore for the textile industry in 2009-10 and Rs 4,200 crore in 2010-11, but the government issued only Rs 9.7 billion and Rs 7.75 billion in tax rebates respectively.
In the past fiscal year, Pakistan’s textile exports exceeded 10 billion rupees. If the tax rebate mechanism is successfully maintained, exports can achieve better results.
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