LAHORE: Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA) on Monday urged the State Bank of Pakistan (SBP) revision in calculation method in DLTL Scheme.
PRGMEA Chief Coordinator Ijaz Khokhar, in a statement, said the government had committed in the federal budget 2015-16 for refunds of claims of Drawback of Local Taxes and Levy (DLTL) to the exporters but the recent SBP circular gave an impression that it would not seem to be materialized.
Ijaz Khokhar claimed that revision in method of calculating DLTL claims would require additional paper work, fresh certificates/undertaking and re-verification of the claims already verified by the Ministry of Textile.
It would delay the processing of claims and add to the financial burden on the value added sector, he added.
He said that new method would result in unnecessary reprocessing and re-scrutiny of claims at all levels, wasting precious times. Keeping in view the declining trend in exports and blockage of precious working capital under various schemes, this action would further deteriorate the situation for the value added exporters, he added.
If the SBP considered this new method necessary, he said, it should be implemented from next financial year. Ijaz Khokhar urged the Finance Minister to play his role in early processing of exporters claims.
Comments
Comments are closed for this article.