PHMA asks SBP to release procedure for applsying DDT

Salim Ahmed

Lahore

The Pakistan Hosiery Manufacturers Association (PHMA) has asked the central bank to issue procedure’s detail for applying drawback claims under revised PM export package, as the SBP has not yet formulated the process of application for DDT.
PHMA Chairman Dr Khurram Anwar Khawaja said that the ECC had approved the revised PM package for exporters in early October and the textile ministry had notified this immediately but almost one and half month lapse no detailed circular was issued by the central bank regarding procedure of Drawback of Duty and Taxes (DDT).
He also asked the government to provide complete and 100% drawback rate of incentive to the eligible value-added textile exporters on shipment basis as promised by the authorities, abolishing the condition of 10% or more increase in exports.

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