President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has appreciated the government decision for releasing exporters' refunds pertaining to Drawback of Local Taxes and Levies (DLTL) amounting to Rs. 35 billion
Karachi (Pakistan Point News / Online - 03rd July, 2019) President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has appreciated the government decision for releasing exporters' refunds pertaining to Drawback of Local Taxes and Levies (DLTL) amounting to Rs. 35 billion.In a statement issued on Thursday , the President FPCCI stated that the government should provide the level playing field to business community as the continuous rising of utility prices, high interest rate and transportation cost makes our export uncompetitive in international market.
He underlined the need to restore the zero rated regimes for five exportable sectors under SRO 1125, which contribute 70 percent in exports and significantly provide employment to skilled and unskilled labor force. The withdrawal of zero rated facility not only affects the large scale manufacturing, it also increases the cost of doing business of small industries and opens the door of smuggling which is unaffordable in the present economic environment.
He suggested the government to facilitate the industrialization in Pakistan particularly the agro-based and value added industries for the enhancement of exports. He said that refund of DLTL is the long outstanding demand of business community.He lauded the efforts of Prime Minister Imran Khan and Abdul Razzaq Dawood, Advisor to Prime Minister on Commerce and Textile for taking keen interest in resolving the issues of business community and enhancement of economic activities in Pakistan. A part from DLTL, there is huge pending exporters refunds related to Sales tax and custom duty drawbacks amounting to Rs. 300 billion which should also be released as soon as possible in order to increase domestic investment and further enhancement of exports.
