Several textile machinery containers getting delayed at Karachi port

Several state-of-the-art textile machinery containers that are worth millions are getting detained at Karachi port.

It is believed that the Federal Board of Revenue (FBR) is deliberately delaying the process of issuing Sales Tax Exemption notification despite it being approved by the cabinet and Economic Coordination Committee (ECC) of the previous government.

Dr. Khurram Anwar Khawaja, Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA), averred that the previous government had extended the facility of zero rating on sales tax on machineries that are not produced locally and are imported by the textile sector registered with Ministry of Textile.

Though this facility ended on 30 June, it has now been extended through notification.

While condemning the FBR for delaying the notification despite previous government’s approval, Dr. Khurram asked the current government to direct FBR to immediately issue notification so that the industry does not incur any losses.

Adil Butt, Former Chairman, PHMA, said that the objective behind extending the exemption of sales tax on the import of machineries was to provide relief to the industry and enhance the technological configuration of the textile industry on the whole.