Revised duty drawback rates urged

LAHORE: The All Pakistan Textile Mills Association (APTMA) has sought upward revision of duty drawbacks on exports to make them realistic with the current incidents of duties and taxes, a statement said on Friday.

The existing duty drawback notification was issued around 11 years ago in 2009. Since then, the whole tariff rates have altogether changed and require immediate revision, it added.

These views were expressed by APTMA Punjab Secretary General / Executive Director Raza Baqir, who was heading a delegation of the association during a meeting with senior officers of 5the Directorate General, Input Output Coefficient Organization (IOCO) North Zone.

The meeting was held to evaluate rates of duty drawbacks on exported goods of garment.

The APTMA delegation stressed the need for amending rules, simplifying tax laws and automating business processes to bring transparency in the system so that the SME sector of the value-added textile industry could be facilitated and exports could be enhanced.