APBUMA for implementation on Rs24 bn package

MULTAN: All Pakistan Bed sheets and Upholstery Manufacturing Association (APBUMA) has urged the prime minister and the finance minister to take the value-added textile industry onboard regarding the proposed five-year export package. He requested the government to restore the textile association in the new export package. The APBUMA has showed disappointment over the lack of commitment of incumbent government towards the textile sector.

Addressing a press conference here on Wednesday, APBUMA chairman Asim Shah said that Finance Minister Miftah Ismail, in his budget speech, had announced yet another package of Rs24 billion for the exporters to expedite the exports. “Hardly 10 days are left for this government in the office and no concrete steps have been taken as of yet,” he added.

“It is learnt that the government has formulated a five-year export package of Rs28 billion without allocating the funds in the budget.” He demanded the government to ensure across-the-board support to valued-added sector, including Home Textiles and Made-Ups.

Shah said the textile exports grew 24 percent and 18 percent in March and April respectively but this momentum will break if no further funds are issued for the DDT and sales tax rebate claims of the exporters despite repeated requests. He informed that expectation of Miftah Ismail for 20 percent increase of exports in May and June 2018 will not be achieved in current circumstances where textile sector is facing severe liquidity crunch due to non-payments of drawback funds.

The APBUMA chairman said under the Prime Minister Package of Rs180 billion for textile and other non-textile sector, it was decided to offer 50 percent of the drawback claim and other 50 percent was subject to 10 percent increase in exports as compared to last year. He informed that the package would expire on June 30 this year and till now no payment has been issued on this account.