Textile Industry needs Multiple Reforms in Upcoming Budget

The value-added textile exports associations proposed to the Federal Government for Budget 2021-22, demanding that the zero-rating taxation regime be restored and duty drawback of taxes (DDT) are continued.

The textile exporters said this while addressing a joint press conference at Pakistan Hosiery Manufacturers and Exporters Association (PHMA) House.

The textile industry officials also asked that the Technology Up-gradation Fund (TUF) scheme be continued while the final tax is reduced and withholding tax is lowered to 0.5 percent in the budget.

RThe demand of the leaders of the associations was that the Export Development Fund (EDF) surcharge be suspended, and the electricity tariff is reduced and fixed in the forthcoming budget.

Council of All Pakistan Textile Mills Associations Chairman, Zubair Motiwala, Pakistan Apparel Forum Chairman, Jawed Bilwani, PHMA Chairman, Tariq Munir, and other leaders of different associations participated in the joint press conference.