Finance Minister Abdul Hafeez Shaikh has assured businessmen that the government will clear claims worth Rs1.7 billion under the Drawback of Local Taxes and Levies (DLTL) scheme in 10 days for the leather sector.
Talking to a delegation of the Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) in Islamabad on Friday, the finance minister said an additional Rs2.5 billion in duty drawback would be disbursed to the industrialists in three stages.
According to a statement issued by the association, Shaikh promised the leather sector exporters that all possible facilities would be provided to them so that they could play their true role in lifting the country’s exports.
He stressed that the government was pursuing a strategy of promoting industrial activities aimed at economic stabilisation in the country.
Speaking on the occasion, PLGMEA Chairman Danish Khan said that the Covid-19 pandemic had adversely affected economic condition of the world including that of Pakistan and requested an extension in the DLTL scheme till 2025-26 along with relief in freight charges. According to him, the extension in the DLTL scheme will aid development of the export sector.
He cheered that the amount of sales tax and customs duty drawback had improved under the automatic system and termed it a welcome sign for economic activities.
“Stringent efforts by Prime Minister Imran Khan and his economic team have led to improvement in the country’s economy as well as rise in exports, which is encouraging for businessmen,” he said.
The PLGMEA chairman called encouraging the steps taken by PM Imran for industrial development.
He voiced hope that more such steps would be taken to ensure uninterrupted supply of energy and decline in production cost of industries.
Khan added that improvement in the economy and a significant increase in exports were expected due to swift liaison between the industrialists and the government’s economic team aimed at promoting the industry and trade.
PLGMEA Patron-in-Chief Fawad Ejaz Khan, FBR Chairman Javed Ghani, Special Assistant to Prime Minister on Revenue Waqar Masood, Adviser to PM on Commerce Abdul Razak Dawood, Climate Change Secretary Naheed Durrani and Commerce Secretary Saleh Farooqi were also present in the meeting.