LAHORE - The alarming declining trend in finished leather exports were registered in 2014-15 which, showing a drop of around 11.36pc during the current fiscal year from July-June. Besides above, only 21.106 million Sq. Meter finished leather were exported during 2014-15 and registered decline of 28pc in quantity as compared to the corresponding year of 2013-14 which was 28.348 Sq. Meter which is alarming. M Musaddiq, Chairman, PTA, said that cost of doing business in Pakistan is increased to exorbitant extent due to unnecessary burden of taxes imposed on Leather Sector by the Government.

Costs increased by about 12pc, which export customers not willing to pay. He said Liquidity problems of leather Industry from the Pending Customs Duty Drawback Claims, Sales Tax Refund Claims & Income Refund Claims, which is accumulated to its extreme in the history, which is severely hampering to our members to carry out their business activities for meeting their export orders. He said that drastic decline in Euro currency in Pakistan and revaluation of Pak Rupee against US. Dollar also caused in decline of leather export, besides reduced demand in China and Far East Market owing to heavy recession in international market of Leather Industry.