Pakistan Readymade Garments Manufacturers and Exporters Associations (PRGMEA) chief coordinator Ijaz A Khokhar has urged upon the government to refrain from abolishing zero-rated regime for the larger national interests and for increase in exports of the country. He sought PM's intervention for resolving this burning issue at earliest possible to facilitate the perturbing exporter community belonging five rated export sectors.
Talking to Business Recorder on Tuesday he said the discontinuation of zero-rated status will result in ruin and disaster of export-oriented industries adding that it will also generate large scale unemployment and huge foreign exchange losses. Withdrawal of zero-rated status will negate the prime minister's vision of boosting exports and improving ease of doing business, he cautioned. Ijaz further said business community was already confronting serious problems like high cost of electricity, gas and heavy taxes of federal, provincial governments and many local taxes.
Despite of problems, the business had put his heart and soul in booting the exports and fetching foreign exchange for the country, he said. Ijaz was confident that prime minister will take personal interest in resolving this hot issue of withdrawal zero-rate regime to facilitate the business community.
Speaking on the occasion the representatives of value added textile, sports goods, surgical and leather sectors said the withdrawal of zero-rated regime would be serious blow to the value-added export sectors of the country. Five zero rated sectors were already documented and contribute 70 percent to nation's exports and generate 50 percent of total nation's employment the disclosed. They urged upon the government to realise the issue and reconsider its decision.
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