According to Pakistani media reports, the textile industry in Pakistan’s Punjab Province is facing rising operating costs and energy shortages, and it is urgent for the government to restore the industry’s zero-interest rate export sales tax. The Pakistan Textile Exporters Association (PETA) stated that the government’s policy of intervening in zero interest rates has led to numerous incidents of tax evasion, causing a cash shortage in the industry.
“Pakistan’s textile industry has faced a certain crisis for many years, and now due to the tightening of financial liquidity, part of the production capacity has been severely damaged.” PTEA Chairman Sohail Pasha said: “The increase in sales tax will bankrupt many manufacturers. .” He called on the government to improve the relevant provisions of sales tax.
SMTanveer, chairman of the Pakistan Textile Mills Association, also hopes that the government will not increase the burden on the export industry by imposing more taxes. He suggested that the government strengthen industry competitiveness to create jobs instead of imposing taxes that increase the burden on businesses.
