Release of duty drawback claims urged

LAHORE: Pakistan Tanners Association chairman Anjum Zafar has demanded immediate release of duty drawback claims of the leather industry, a statement said on Thursday.

He urged Federal Board of Revenue (FBR) chairman Tariq Pasha to immediately release the necessary funds to Customs collectorates for the release of pending duty drawback claims of the leather industry.

As a result of stuck up heavy amount on account of duty drawback rebate claims, the industry is in severe financial crisis due to insufficient working capital, which is desperately required by the PTA members for their smooth and on time export activities, Zafar added.

He said the timely release of stuck up funds to the industry is crucial in order to purchase hides and skins on Eid-ul-Azha, which is a major event for the leather industry to purchase the desired quantity of raw material.