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Business & Finance

MoC releases Rs 1.78bn DLTL refunds for Textile Sector

  • The advisor informed that the DLTL for the non-textile sector will also be released shortly.
04 Dec 2020

In order to facilitate exporters, the Ministry of Commerce has released Rs 1.78 billion for the textile sector under the drawback of local taxes and levy (DLTL) refunds.

“I am pleased to share that the Ministry of Commerce has released Rs 1.78 billion for Textiles Sector under DLTL scheme. I hope this will resolve the liquidity issues of our exporters and enable them to enhance exports,” said Advisor to Prime Minister on Trade and Investment Abdul Razak Dawood in a tweet post on Friday.

The advisor informed that the DLTL for the non-textile sector will also be released shortly.

The development comes a day after Pakistan witnessed significant growth in exports of value-added products.

According to Razak Dawood, value-added product categories within the textile sector witnessed a rise in exports. Provisional figures for November 2020 show an increase of 20% in exports of home textiles, 41% in exports of stockings and socks, 21% in exports of jerseys and pullovers, 11% in exports of women's garments and 4.3% in exports of men's garments.

In addition to this, exports of pharmaceutical products, rice and surgical goods also depicted a rising trend with significant growth of 20%, 14% and 11%, respectively.

Razak Dawood also comments that this growth in Pakistan's exports depicts a healthy trend and is in line with the government's policy of promotion of value added exports.

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