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Senate standing body asks govt to clear pending refunds

Senate standing body asks govt to clear pending refunds

 

ISLAMABAD: Senate Standing Committee on textile industry, in its meeting, discussed in detail the serious crisis engulfing the textile industry of Pakistan and has asked the government to liquidate the pending refunds to the textile exporters as early as possible.

he committee asked Federal Board of Revenue to release the sales tax and customs refunds which are pending for the last three years and account to more than a hundred billion rupees. The meeting was held under the chairmanship of Senator Mohsin Aziz, here at the Parliament House.

The committee expressed its concern over absence of a minister to look after the affairs of the ministry. It also advised the textile exporters to have an umbrella organisation which can address the gravity of issues concerning the textile industry and can make its voice heard to the government.

The committee was given a detailed and all-encompassing briefing by Chairman Council of All Pakistan Textile Association, Zubair Motiwala which stated that high cost of doing business is the main cause of the serious crisis in the industry.

The members were told that due to intermittent raise in the prices of raw materials, production inputs and utility tariffs, cost of doing business in Pakistan has escalated enormously rendering our exports uncompetitive in international market.In his briefing, he said that an enabling environment and competitive structure needs to be provided to the textile industry of Pakistan to cater the dying industry which is at least growth level in the region.