Govt decides to refund taxes

FAISALABAD: Secretary Textile Industry Shahid Rasheed said the government had evolved a mechanism and decided to refund taxes paid under the head of old age benefit and social security by registered textile exporters to facilitate and promote textile exports of the country.

Addressing a meeting of textile exporters at Pakistan Textile Exporters Association, he said the government was fully aware of problems and importance of the textile industry.

The survival of the country and national economy depends upon the textile industry, he emphasized but regretted that due to funding gap, the textile policy could not be implemented in a real spirit.

Shahid Rasheed said the ministry of finance had been approached to release funds for the textile sector against duty drawbacks and other heads.

Earlier, Rana Arif Tauseef Chairman Pakistan Textile Exporters Association welcomed Shahid Rasheed.

In his welcome address, he explained in detail the problems and hurdles faced by textile exports and industry.

Later, a souvenir of PTEA was also presented to the secretary textile.

Copyright APP (Associated Press of Pakistan), 2011