Rs2.5bn in duty drawback to be paid in 3 stages: Hafeez

KARACHI: Rs 1.7 billion will be paid in 10 days in terms of duty drawback (DLTL) of industrialists affiliated to the leather sector, while Rs 2.5 billion in duty drawback will be paid in three stages, says a Press release.
This was stated by Federal Minister for Finance Abdul Hafeez Sheikh on the occasion of a meeting with a delegation of industrialists affiliated to the leather industry led by Danish Khan, Chairman, Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) in Islamabad. The delegation included Patron-in-Chief PLGMEA, Fawad Ejaz Khan, Irfan Iqbal, Chairman FBR Javed Ghani, Special Assistant to the Prime Minister for Revenue Waqar Masood, Trade Adviser Razzaq Dawood, Climate Change Secretary Naheed Durrani and Commerce Secretary Saleh Farooqi were also present.
Speaking to the delegation, Federal Minister for Finance Abdul Hafeez Sheikh said that all possible facilities would be provided to the exporters associated with the leather industry so that the industrialists could play their full role in increasing the country’s exports.
He said that for the economic stability of the country, the government has been pursuing a strategy of maximizing the promotion of industrial activities.
On the occasion, Chairman PLGMEA Danish Khan said that the Corona pandemic has adversely affected the economic condition of the world, including Pakistan, so the DLTL scheme should be extended to 2025-26 for the development of the export sector and relief should also be provided in freight subsidy.
He said that for the first time in the history of Pakistan, under the automatic system headed by FBR Chairman Javed Ghani, sales tax and customs duty drawback have been improved and it is a welcome sign for the economic activities.
Danish Khan said that the hard work of Prime Minister Imran Khan and his economic team has led to improvement in the country’s economy and increase in exports, which is encouraging for exporters.
Chairman PLGMEA said that he welcomed the steps taken by the Prime Minister for the industrial development and hoped that steps would be taken in this direction to ensure uninterrupted supply of energy and reduction of the production cost of industries.
Danish Khan further said that due to continuous liaison between the industrialists and the government economic team for the promotion of industry and trade, improvement in the economy and significant increase in exports would be possible.

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