February 25, 2003	Tuesday	Zul Hijjah 23, 1423

ISLAMABAD, Feb 24: All Pakistan Textiles Mills Association (Aptma) has asked the government for early release of withheld sales tax and income tax refunds.

An official source in the Ministry of Commerce told Dawn on Monday that Aptma approached the ministry and complained that the tax authorities withheld Rs3 billion refunds against sales tax and income tax during the first seven months of the current financial year.

The association was of the opinion that the withheld refunds would further create liquidity problem for the exporters.

According to the Aptma letter sent to the ministry, the textiles manufacturers usually buy cotton during the first three months of a financial year for the whole year.

They said that at the time of buying of cotton, they paid all the due sales tax and income tax to the department and normally got the refunds after 12 months.

This delay in getting refunds create problems for the textile exporters.