Chairman of All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA) Khawaja Jalaluddin Roomi has said that government is taking drastic steps for the development and promotion of value added sector which can play a vital role to increase the exports. He stated this while addressing a joint session of officers of the State Bank of Pakistan, local commercial banks and members of APBUMA here on Friday.
Roomi said that value added sector can contribute to the national economy if the trade facilitation and liberalisation be ensured through improving export competitiveness and reduce the cost of doing business. To achieve higher market access for Pakistani products in foreign markets, the government should take drastic measures, he added. Muhammad Arshad, SBP officer said on the occasion that all claims of drawbacks are decided keeping in view of the available funds. Now we are paying attention towards the payment of August 2011 claims and these would be cleared during the current month.
He briefed the participants that textile ministry has issued a Notification No 1(41) TID/14-RDA dated October 22, 2014, which clearly states that such exporters whose exports would be 10 percent more than 2013-14 would be entitled to get claim of one percent on processed fabrics, two percent on made-ups and four percent on garments.
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