KARACHI, May 6: The chairman of All Pakistan Textile Mills Association Mr Arif Saeed has appreciated the zero rating of sales tax on all man made fibres and related raw materials on the import and local sale and has urged removal of sales tax from major textile related inputs of value added chain including the yarns and fabrics. In a statement on Friday the Aptma chairman said that removal of sales tax from major textile related inputs of value added chain would ease about Rs17 billion liquidity.
“If the sales tax on yarns and fabrics is removed, the producers of fabric, knitwear and towels would be relieved from the hassles of refund chasing,” he said.
The Aptma Chief stressed that the high custom duty rate on man made fibres is another issue of serious concern. Presently, the fibre mix is imbalanced and heavily tilted towards cotton, if tariffs are also rationalized, the textile industry would get an upsurge in investment and exports, he added.
