Karachi, July 29, 2019 (PPI-OT): The Chairman, Towel Manufacturers Association of Pakistan Mr. Farrukh Maqbool said that the towel Manufacturers facing hardships for 17% GST refund rules. In this connection, the association’s delegation ambitious to meet Honourable Mr. Shabbar Zaidi the Chairman-FBR regarding issues are being face by Exporters.
Mr. Farrukh Maqbool stated that Towel manufacturers being 100% export oriented industry of Pakistan, we firmly believe that the proposed refund mechanism will create severe cash flow crunch and increase the cost of doing business for the exporters. He said that the towel export industry predicts that its exports will fall by minimum 25% after the next 3 months if this refund mechanism is implemented.
The Chairman, Towel Manufacturers Association request FBR to treat our refunds in a separate manner, so that the industry remains competitive and further grow its exports. Mr. Farrukh Maqbool asked that we firmly believe that FBR by consultation with TMA can improve the refund mechanism in such manner where the industry’s survival and growth can be promoted. Therefore we request to Honourable Chairman-FBR Mr. Shabbar Zaidi to give us an appointment to hear our reservations as convenient to you, so that we can explain personally PROS and CONS of the scheme.
For more information, contact:
Towel Manufacturers’ Association of Pakistan
TMA House, 77-A, Block ‘A’,
Sindhi Muslim Cooperative Housing Society,
Karachi – 74400, Pakistan
Category: General Business News