TMA demands effective check on yarn export

Towel Manufacturers' Association of Pakistan (TMA) has demanded effective checks and balances on the export of yarn.
The association, presenting suggestions for the forthcoming Trade Policy 2004-05 asked the government take effective steps in the policy to ensure availability of quality yarn at reasonable prices in the domestic market.
In a statement issued by the association on Thursday, the association proposed that the amount collected through EDS levy should be spent on the research and development of that sector, where it came from. Without demanding a matching amount, the government should allocate more funds to institutes and R&D work on the sector from it collected the amount, it added.
For the sake of transparency, the association proposed that the government should provide complete details of sector-wise receipts to businessmen on yearly basis.
It further called for subsidy on raw materials like chemicals, dyes, packing and finishing material to make the country's exports more competitive. The association also suggested stringent checks on bogus sales tax refund claims. The association pointed out that one of the major roles of EPB would end in year 2004 ie quota distribution and demanded that till this interim period the auditors should be bound to return the export documents within 24 hours.
The association proposed conversion of EPB into a corporation and handing over of vegetables, flowers, fruits and fisheries to Agriculture Department to look after the exports of these items.
The association further proposed a quarterly meeting of export promotion council under the chairmanship of commerce minister to review the export performance of each sector.