22 May 2004	Saturday	02 Rabi-us-Saani 1425

ISLAMABAD, May 21: Federal Minister for Industries and Production Liaquat Ali Jatoi on Friday assured the textile industry that the recommendations of the stakeholders on tariff rationalization will be taken up with Ministry of Finance and CBR for incorporation in the budget 2004-05.

He said this while presiding over an inter-ministerial meeting on budget and tariff proposals related to textile industry with the Aptma and other stakeholders here in the ministry. Minister of State for Environment Maj. Tahir Iqbal was also present.

Jatoi said the textile industry was the backbone of country's economy and their 67 per cent exports based on textile sector and "we have to meet the challenges of WTO to further enhance our exports under the quota free regime."

He said that the proposals of the textile industry regarding concessions in duties and taxes would be considered favourably and their problems in this respect would be resolved on priority basis.

He said that a meeting to discuss the recommendations of the textile industry for their incorporation would be held on Tuesday with the Ministry of Finance and the CBR.

The meeting approved registration of joint stock company for establishment of effluent plants in the country with State Minister for Environment as its Chairman and supported the proposal of the stakeholders regarding zero rated duty on the import of effluent plant.

Establishment of effluent plant was the one of the condition of the WTO. The stakeholders also proposed that there should be a developed infrastructure for capacity building of industrial sector and the duty on the import of machinery in this regard should be abolished.

They also proposed reduction of duty on raw materials, reduction of duty on man-made fibre, input tax on diesel, and amendments in the SROs to resolve the problems of sales tax refund.

The meeting discussed the proposals of the Aptma and other stakeholders and supported the proposals to be taken up with the authorities concerned. The meeting was also attended by Secretary, Industries and Production, Chairman Aptma Waqar Monno, Chairman Readymade Garments Aziz Memon, Abdul Razak Teli, Chairman Chenab Group and member Aptma, Mian Latif, and various representatives of textile industry, CBR, and ministry of Industries and Production.