Exporters seek zero-rating status

LAHORE: Rice exporters on Thursday demanded of the government to give zero-rating status to the sector, saying there are serious liquidity problems due to pending refund claims.

Members of the Rice Exportes Association of Pakistan (Reap), in a meeting, said huge amounts are still stuck in refund claims, squeezing finances and causing cash-flow problems.  Muhammad Shafique, chairman of Reap, said appreciated Prime Minister Nawaz Sharif for accepting demand of zero-rated regime restoration for the five export sectors, which include textile, leather, carpets, sports goods and surgical instruments.   Shafique said rice exporters also contribute major share to export earnings and are providing employment to millions.  REAP Chairman said rice export sector is the 2nd largest export commodity, but despite earning of around two billion dollars worth of valuable foreign exchange annually, rice exporters are not given the benefits.