The Pakistan Hosiery Manufacturers & Exporters Association has welcomed the release of sales tax refunds of Rs32.20 billion and appreciated the Ministry of Commerce for releasing another Rs17.6 billion under DLDL
Lahore (Pakistan Point News / Online - 14th December, 2019) - The Pakistan Hosiery Manufacturers & Exporters Association has welcomed the release of sales tax refunds of Rs32.20 billion and appreciated the Ministry of Commerce for releasing another Rs17.6 billion under DLDL, saying the initiatives will act as a driving force for a sizeable growth in exports.PHMA vice chairman Shafiq Butt said: "Export industry is grateful to the PM and his entire team on payment of Rs30 billion for bonds issued against long outstanding sales tax refunds.
Moreover, release of Rs2.2 billion against RPOs generated between Sept 6 and Oct 31. But this is a partial payment, majority of our members, who are renowned exporters, are still waiting for their refunds payment."He said that the country has achieved current account surplus and now it needs a policy that makes country become a trade surplus through industrialisation and exports. "We are confident that the same spirit will be followed and remaining hurdles in export growth will also be removed."He said that the PHMA appreciates the government on great progress towards a sustainable future, including current account surplus from an annual deficit of $20 billion, Moody's outlook from negative to stable and KSE Index crossing 40,000 level.
