Contact Us

  Keyword :        

Subscribe
Subscribe to Rss Feed
Follow us at twitter.com/infobanc_com
 
Business News
Categories Date
 
Archives
News Archives
 
News Types
Projects
Others
Regulatory News
Price Movement
Govt Policy
Market News
Mergere Acquisition
 
Most Viewed
Import of Raw Cashew Nuts to Continue
Clove Prices Likely to Stay Firm
Anti Dumping Duty on China Origin Flax Fabrics (Linen)
Cocoa Price Reaches 10-year high on Falling Production and Growing Demand
After Sugar, Jaggery Prices Hit The Sky
Dumping Duty on Tyre Import from China, Thailand
Coconut Prices to Stabilise as Kerala Govt Mulls Procurement
Rising Cashew Export Brings Cheers among Cashew Farmenrs
Dhanalakshmi Bank Ties Up With Bank of New York For Online Remittance
Revival in Cashew Export
 
Infobanc Resources
Latest Tenders
Market Research Reports
Directory of Manufacturers and Exporters
   
 

Textile Exporters in Pakistan Affected by Unpaid Drawback Claims

   
Date : November 30, 2011
Number of Views : 210

 
The Pakistan Textile Exporters Association (PTEA) has claimed that working capital of the country’s textile exporters worth about PKR 25 billion is blocked under several duty drawback schemes, which is affecting the country’s exports and is also causing a negative effect on the nation’s economy.

After the end of quota system in textile trade, exporters were provided with research and development facilities in order to help them enhance their exports.

However, the facility was suspended after a couple of years in 2008, following which some refund claims are still lying unpaid, which is causing the exporters to suffer financial crisis and is also hampering their business flow as their working capital remains blocked.

Meanwhile, with a view to help the textile exporters, the present Government introduced another drawback of local taxes and levies (DLTL) scheme under its Textile Policy in 2009.

The scheme met with positive response from the side of exporters and the country’s overall exports surged above US$ 24 billion, while textile exports jumped above US$ 13 billion.

However, the drawback facility as promised under the scheme was not honoured fully and just 14.67 percent of the claims submitted by the exporters have been paid till now, due to which considerable amount of working capital of the exporters is still blocked with the Government.

Thus, while on one hand the working capital of exporters is getting blocked in Government’s duty drawback schemes, the cost of production is also going up with each passing day on the other. The twin affect is rendering the Pakistan textile industry’s exports unviable on global front.

 
News Category: Textile Machinery

News Type : Govt Policy

 
 
 
 








* Max 250 characters