All Pakistan Textile Mills Association Chairman Tariq Saud expressed thanks to the Prime Minister Nawaz Sharif, Federal Minister for Finance and Economic Affairs Ishaq Dar and his team for announcing release of outstanding sales tax refund of Rs 21.44 billion by 31st August 2016 against RPO’s issued until 30th April, 2016.
In a statement issued to the press, the APTMA chairman termed it a good sign that the government had at least started disbursement of outstanding refund claims. He hoped that the announcement made by the federal finance minister that cheques for RPO’s issued until 30th April 2016 be paid by 31st August 2016 would be implemented in letter and spirit. He also welcomed the announcement made by the prime minister that all pending refunds would be paid by 15th October 2016 for all RPO’s issued until 30 June 2016 and balance RPO’s of claims entered by 30 June 2016 would also be processed expeditiously and necessary instructions have been issued to THE FBR and its field offices.
The APTMA chairman said that the growth target of six per cent by the year 2018 given by the prime minister in a gathering of exporters and businessmen at Prime Minister’s Secretariat on Tuesday, would become possible only if the export-oriented manufacturing sectors like textile, which contributes about 60 per cent to export of Pakistan, is provided a level-playing field to compete with the regional competitors in the international market.
The APTMA chairman urged the government to address the irritants which are hurting the viability of textile industry of Pakistan on priority basis so that the textile industry of Pakistan could become viable, compete with their regional competitors and take part in the economic development and achievement of six per cent growth target by 2018 set by the government.
