Pakistan Textile Exporters Association Urges Cancellation Of Protection Tax And Customs Duties
The Pakistan Textile Exporters Association (PTEA) has urged the government to withdraw its raw materials from the domestic textile industry.
Protection tax
And tariffs, while allowing raw material tax and tariff rebate, to help domestic textile enterprises reduce production costs and enhance their global competitiveness.
PTEA President Rana Arif Tauseef said filament yarn cannot be used.
drawback
Domestically produced goods are subject to heavy protection tax and 8% tariffs, which are unfavorable to the production of export textiles and affect their textile exports.
He argues that compared with regional competitors, Pakistan has
Textile exports
There is no fair competition environment, because production inputs and raw material prices are higher than other countries in the region. Therefore, their production costs increase, resulting in their products lacking competitiveness in the global market.
He further pointed out that their regional competitors in Sri Lanka and India bought raw materials at lower prices, so their production costs were still low, which allowed them to sell products to global buyers at lower competitive prices.
Mr. Tauseef said that in the era of globalization and liberalization, competition became more intense, and exporters needed to minimize production costs before they could survive and develop.
Most governments in other exporting countries help exporters by providing tax, exemption, tax relief, and zero cost of production costs to exporters.
For example, India provides tax rebates for exporters, while China provides low cost production inputs.
Not only are raw materials, but the cost of exporting textile production in these countries is also significantly lower than that in Pakistan, so exporters in these countries offer very competitive prices for overseas buyers.
On the contrary, Pakistan's textile exporters are heavily taxed and taxed, which is beneficial to importers of raw materials and domestic production enterprises, such as filaments and chemicals manufacturers.
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