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July 29, 2008 Tuesday Rajab 25, 1429



Exporters denied R&D payment



By Our Staff Reporter


KARACHI, July 28: Readymade garment exporters have been denied payment of research and development (R&D) support although they submitted claims before June 25, the last date fixed by the State Bank.

Pakistan Readymade Garment Manufacturers and Exporters Association (Prgmea) chairman Bilal Mulla in a statement has appealed to the authorities concerned to help exporters in getting R&D payments.

He said that many claims submitted by the due date had been returned by authorised dealers and banks with different objections and observations raised by the SBP.

After removing objections such claims were re-submitted with the SBP but unfortunately, the central bank had refused to accept them, Mr. Bilal alleged.

The Prgmea chief said that Economic Co-ordination Committee (ECC) of the cabinet in its meeting held on July 1 at Karachi had approved a proposal that textile sector be allowed to file their R&D support claims for the shipments made up to June 30, 2008, which was the original date fixed by the ministry of commerce.

Despite the lapse of considerable time, he said, the notification in this regard has not been issued so far and the SBP is not accepting any R&D support claim after June 25.

Meanwhile, leaders of the Pakistan Apparel Forum have taken strong exception to the demand made by the yarn producers for getting R&D support. In a meeting the forum chairman Naqi Bari, PHMA chairman Jawed Bilwani and the Prgmea chairman emphasised that the R&D support was given to sustain the dwindling exports of value-added apparels against stiff competition from regional countries.







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