PTEA hails Rs 2bn for DLTL

FAISALABAD: Pakistan Textile Exporters Association (PTEA) hailed release of Rs 2 billion funds for Drawbacks on Local Taxes and Levies (DLTL), Export Financing Scheme and markup rates schemes and incentives announced in Textile Policy (2009-14) and termed it a positive step towards export promotion.

In a statement issued here on Wednesday, Asghar Ali PTEA chairman and Muhammad Asif vice chairman welcomed the government's decision and demanded more funds for payment of DLTL pending claims.

They said different schemes under the Textile Policy, including Textile Investment Support Fund, drawback of local taxes, refund of past Research and Development (R&D) claims and Export Financing Scheme, were initiated in 2009 to boost textile exports.