Govt urged to pay ST refund
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KARACHI: Trade Development Authority of Pakistan (TDAP) CEO S.M. Muneer urged the government on Saturday to refund the sales tax (ST) to the businessmen without further delay.
Speaking at the first International Textile Conference and Awards 2015, he said: “If the government refunds this amount to the business community, I take the responsibility to boost exports to $5 billion during this year,”.
Board of Investment’s chairman Miftah Ismail, who was also present on the occasion, talked about investment prospects in the textile sector, saying the country’s economy was moving forward.
“We are included in the International Monetary Fund programme for the last one-and-a-half years and six reviews have been done so far very successfully,” he said.
Towel Manufacturers Association Pakistan’s chairman Mehtabuddin Chawla said that after winning the preferential market access under the European Union’s GSP+ status, the government was engaged in signing understandings with countries like Singapore, Malaysia and Turkey which would allow zero per cent customs duty on exports.
Mirza Ikhtiar Baig, former adviser to prime minister on textiles, gave an overview of the textile sector, saying that this sector accounted for 55pc of the total exports with a volume of $13 million.
This sector provided 38pc jobs and contributed 10pc to the GDP, he said.
Published in Dawn March 1st , 2015
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