FBR urged to clear textiles dues

KARACHI: Ahmed Chinoy, Chairman Pakistan Cloth Merchants Association (PCMA), on Monday appealed to the government to release the outstanding Sales Tax/Duty Drawback Refunds of textile industry that was facing severe liquidity issues owing to COVID-19 led economic sluggishness.

“There is no visible improvement in employment even after the business activities have been reopened by the government. The small and medium industries, being the main providers of jobs, are still struggling because of lack of funds,” Chinoy said in a statement.

He said the global lockdown badly affected economic activities, businesses, people’s income and their purchasing power and as a result, the demand for many products dropped sharply. “Textile industry is struggling to attract foreign buyers and the financial health of the companies around the globe is deteriorating,” Chinoy said.

The industry official also urged the Federal Board of Revenue (FBR) to take concrete action/efforts for early disposal of refund claims of industries FBR must take steps to further improve its systems and it must simplify the Annexure-H to facilitate the taxpayers.