Qaisar urges govt for emergent release of funds

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Faisal Khawer Butt
Sialkot

President Sialkot Chamber, Qaisar Iqbal Baryar, appealed to the Federal Government of Pakistan for an emergent release of funds to clear the backlog of claims under the Ministry of Commerce’s Local Taxes and Levies Drawback (Non-Textile) Order, 2018 and Duty Drawback of Taxes (Textile), 2018.

In A statement Baryar said that one of the biggest issues being faced by the SME-based Export Industry was the liquidity crisis which had aggravated since the Covid-19 pandemic as the exporters were finding it difficult to manage their operational expenditures despite having confirmed orders.

He said that exporters relied heavily on the timely clearance of claims under various incentive schemes of the Government.

The President Chamber lamented that pendency in the clearance of LTLD and DDT Claims had created immense financial problems for the Industry.