LAHORE: Adviser to the Prime Minister on Revenue
Haroon Akhtar Khan said on Saturday that the government has released higher
refunds during the current fiscal year to ease the pressure on exporters,
hoping that the increase in exports will accelerate in the coming months.He was
addressing a press conference after meeting leadership of the All Pakistan
Textile Mills Association (Aptma).
Earlier, Khan, accompanied by senior members of the Federal Board of Revenue
(FBR) and other officials of key departments, had a lengthy meeting with Aptma
members to discuss issues hindering the growth of the textile sector.Both sides
discussed issues pertaining to sales tax refunds on deferred, current and
rolled back Refund Payment Orders (RPOs), along with issues relating to imports
of raw material by the basic textile industry.
Textile industry demands
reforms to further boost exports.The Aptma leadership reiterated that only the availability of
internationally competitive energy, improvement of industrial liquidity through
prompt payment of duty drawbacks, sales tax refunds and putting in place
safeguards for the domestic textile industry against the entry of dumped,
subsidised and undeclared yarns and fabrics from across the border will prevent
the textile sector from collapsing.
“The government is determined to remove all obstacles faced by the exporting
sector,” Akhtar said, adding that genuine demands of the textile industry have
already been accepted as it is the main provider of industrial jobs in the
country. He assured that in accordance with the export vision of Prime Minister
Abbasi, the textile package would be implemented in letter and spirit.However,
Khan cautioned that no steps will be taken that would hurt the value added
apparel sector which benefits from certain imports. The adviser to the PM
claimed that corruption had been effectively curbed during the tenure of former
Prime Minister Nawaz Sharif.
He conceded that the current account deficit is a serious problem which, he
said, would be gradually addressed as the economy is now on a growth
trajectory. He claimed that GDP growth would further increase this fiscal year.Country needs qualified officers to boost
exports“The economy in general is in a much better position than in 2013,” the
adviser claimed, adding,“last year we achieved a growth rate of 5.3% and in
this fiscal year we will further increase our GDP growth to 5.8%.”
Source: The Express Tribune, Pakistan Monday, 27 November 2017