Textile sector seeks zero-rated facility
Asks govt to reduce withholding tax to 0.5% in federal budget for FY22
KARACHI:
Value-added textile exporters have urged the government to restore zero-rating (no payment, no refund), continue the Duty Drawback of Taxes (DDT) scheme and Technology Up-gradation Fund (TUF), and reduce withholding tax (WHT) to 0.5% in the upcoming federal budget for fiscal year 2021-22.
At a joint press conference, the heads of around a dozen textile associations including Council of All Pakistan Textile Mills Association Chairman Zubair Motiwala, Pakistan Apparel Forum Chairman Jawed Bilwani, Pakistan Hosiery Manufacturers and Exporters Association Chairman Tariq Munir and Pakistan Knitwear and Sweater Exporters Association Chairman Rafiq Godil demanded the suspension of Export Development Fund (EDF) surcharge.
Yarn shortage pushing industries towards closure
Textile exporters say exports have dropped drastically , warn of massive layoffs
KARACHI:
Textile exporters have lamented that the aggravating cotton yarn crisis due to its shortage has caused a drastic decline in exports, pushing industries on the verge of closure and sparking fears of layoffs of millions of workers.
At a joint press conference of various textile associations, Pakistan Apparel Forum Chairman Jawed Bilwani said, “The government has closed its eyes on the hoarding of cotton yarn and cartelisation, which can be dealt with as per law under the Price Control and Prevention of Profiteering and Hoarding Act 1977 and Competition Act of Pakistan 2010.”