PTEA Pre Budget Proposals FY 2020-2021

PTEA PAKISTAN TEXTILE EXPORTERS ASSOCIATION
Budget Proposals FY 2020-2021

PTEA Pre Budget Proposals FY 2020-2021

We appreciate the Honourable Prime Minister IMRAN KHAN and his visionary team for fighting COVID-19 in the best possible way.

Release of maximum refunds to exporters have helped to mitigate the impact of current situation; HOWEVER, in order to expedite the momentum of textile export growth and to reach next level, we request to consider our suggestions in upcoming budget FY 2020-21.

• No GST - No Refund to ease liquidity in the market as liquidity is the key for growth of textile exports.
• Regionally Competitive Energy Cost to the Industry to cut down the production cost and secure the competitive edge in international market.
• Restoration of Income Tax Credit u/s 65(B)&(E) to encourage new equity / investment.
• Withdrawal of all taxes / duties from exports and automation of refund mechanism in true spirit.
• Budgeting of long outstanding refunds of Technology Up-gradation Fund (TUF) and Mark-up support as per textile policies (2009-14 & 2014-19).
• Budgeting of Duty Drawback of Taxes (DDT) refund for the next FY. DDT should be paid upfront instead of 2 phases.

We are confident that above progressive initiatives will bring new investments, steam up industrialization, create new jobs and help us reach the maximum level of growth in textile export.