PRGMEA urges govt to release stuck-up refund claims The Pakistan Readymade Garments Manufact-urers and Exporters Association (PRGMEA) has earnestly called upon the government to release stuck up refund claims accumulated into billions of rupees. In a SOS sent to Prime Minister Nawaz Sharif, Finance Minister Ishaq Dar and Commerce Minister Khurram Dastagir, PRGMEA Acting Chairman Amir Amin Kothawala appealed to look into this serious matter in order to release exporters money which has been held up by the Ministry of Finance for the last several years and has now reached Rs 40 billion against refund claims of Duty Drawback of Local Taxes and Levies (DLTL), sales tax and with the customs. The government of Pakistan announced the scheme regarding DLTL in 2009 for the exporters, in which 3.0 percent was share for the garment sector, besides additional 1.0 percent drawback was promised to exporters who will achieve an increase of 15 percent in exports, this was never announced. Though the period has been expired in June 2011 but our exporters are waiting for their reimbursement against DLTL. “The stuck up capital of the exporters has accumulated to around Rs 40 billion in terms of DLTL, sales tax and customs while the sector’s stuck-up claims are Rs 9-10 billion alone in terms of DLTL,” Kothawala said adding that due to these stuck-up payments the exporters are facing acute liquidity crunch.
Posted on: Thu, 31 Oct 2013 04:32:09 +0000