ISLAMBAD    -    Advisor to Prime Minister on Commerce and Textile Abdul Razzak Dawood has said that incumbent government would release the pending tax refunds for the exporters to enhance the exports.

Sufficient funds would be released by Federal Board of Revenue (FBR) for refund of the claims submitted by the exporters so as to boost total exports, the advisor said while chairing the 8th meeting of Federal Textile Board. The exporters believed that their pending refund claims are around Rs250 billion. On the other hand, the pending refund are around Rs200 billion as far as the government is concerned.

The advisor welcomed all the participants for their interest in the meeting. Advisor highlighted the importance of the textile sector, and assured the participants that the government is cognizant of the problems faced by the industry and that steps are being taken to address them. Representatives of the associations appreciated the decision of the government to introduce a separate gas tariff for the textile value chain and that the price has been kept at Rs 600/mmbtu. Furthermore, they highlighted the issues like pending rebates under PM package for exporters, energy prices and other issues faced by the ginners, spinners and value added sectors due to which our textile exports are uncompetitive and at disadvantageous position vis-à-vis other regional countries particularly India and Bangladesh.

The advisor desired that industry to import state of the art machinery and adopt scientific methods in their value chain to become more productive. Representatives of the industry thanked the advisor for his interest in the problems being faced by the textile sector.

The meeting was also attended by Federal Secretary Textile Division, Joint Secretaries Textile Division, Secretary to the board, and representatives of almost all the leading associations of textile sector.