Meeting of PTA delegation with Honourable President of Pakistan and Chairman FBR on 29th November, 2019 at Islamabad
Islamabad, December 02, 2019 (PPI-OT): Sheikh M. Afzal Hussain, Chairman, Pakistan Tanners Association shared the outcome of two meetings held at Islamabad on 29.11.2019 with the Honourable President of Pakistan, Dr. Arif Alvi wherein placed to him various core issues confronting by PTA’s members / leather Sector of Pakistan, which needs mandatory to be addressed for prompt redressal to provide level playing field to this Vital Industry of the country in comparison with the neighbour competing countries like India, Bangladesh and China to make our members motivate with facilitation for playing their pivotal role continuously for the promotion of exports of leather sector of Pakistan.
The Delegation found the Honourable President of Pakistan was so humble, kind and committed and heard all the grievances/issues being faced by this Industry patiently and assured the delegation to take up the matters with the concerned Ministries like MOF, MOC and FBR strongly for the desired resolution with his recommendation.
Mr. Afzal Hussain, Chairman, PTA also shared the outcome of 2nd important meeting of PTA Delegation held with Chairman, FBR, Mr. Shabbar Zaidi on 29.11.2019 and discussed all core issues, which are vital and detrimental to Leather Industry as below:-
01. Fixing of Ceiling/Benchmark for the refund of Sales Tax for finished leather. Chairman, FBR informed the delegation that the required ceiling has already been revised and inserted in the FASTER Programme system, which is expected not less than 10% for smooth submission of claims without any hurdle. PTA delegation hoped to resolve this core issue for the refund of sales tax for finished leather with revised benchmark/ceiling re-determined by FBR.
02. Rates for Duty drawback for finished leather for cow, buffalo, sheep and goat skins, it was ensured to PTA’s Delegation that the revision of Rates would be considered favourably for revision with the same rate already approved by IOCO instead or existing rates.
03. Withdrawal of SRO # 327, which was revoked recently by FBR, the Delegation was also assured to consider it for the required restoration of SRO # 327, which was very hopeful to our members exporters for the import of required raw materials for the Industry for meeting the consumption requirement for export purpose for yielding the sizeable foreign exchange for the country.
04. Rest of core issues were also discussed in detail with Chairman, FBR such as withdrawal of 2%ACD on import of Cow and Buffalo, acceptance of Indemnity Bond for 17% Sales Tax rather than payment of 7% cash and 10% indemnity Bond for the import of Tanning Machineries for the up gradation of the Industry etc. etc.,
PTA Delegation thanked to the Honourable President of Pakistan for sparing time to have a detailed meeting and his assurance for the resolution of the issues being confronted by the Leather Industry and PTA’s Delegation led by Sheikh Afzal Hussain thanked to Chairman, FBR for having meeting and heard the issues of the Industry with his firm assurance for the resolution to the issue and thanked to him for the revision of Ceiling, which is expected not less than 10% for finished leather to meet the requirement of FASTER Programme for smooth and in time clearance for the refund of Sales Tax to our members, who are severely suffering financially even unable to import the chemicals and raw materials because of liquidity crunch.
PTA Delegation also met with Mr. Usman Dar, Advisor to PM and explained all the grievances of the Industry and he realized the gravity of the matters/situation being related person engaged with Leather Business also and assured the Delegation to take up the issues at his level with the highest Authorities for the resolution.
For more information, contact:
Pakistan Tanners Association
46-C, 21st Commercial Street,
Phase II, Extn., Defence Housing Authority,
Karachi-75500 – Pakistan
Tel: +92-21-35880180, 35880184, 35899819
Category: General Business News