by Apparel Resources News-Desk
07-December-2018 | 1 min read
The Pakistan Textile Exporters Association (PTEA) has urged the government of Pakistan to release funds so as to make payment of unsettled duty drawback of taxes (DDT) claims.
Further on same, Khurram Mukhtar, Chairman, PTEA, in a recent statement, averred that the textile sector had the capacity to add US $ 5 billion more in textile exports and thereby create 5,00,000 jobs in 2 years.
The Chairman said that the previous government had sanctioned Rs. 16 billion to help make the payment of DDT, but the amount was never released. He added that the amount has now amassed to Rs. 35 billion.
Besides, Rs. 10 billion of custom rebate claims was also stuck.
The PTEA Chairman said that if the Government released all the funds, it would help enhance textile exports and thereby help drive the economic growth of the nation.
There was also demand for preferential treatment to enhance exports and generate industrial activities. The Chairman opined that without financial support, it will not be possible to run the industry.