Payment of DLTL textile claims demanded

KARACHI: Dr. Mirza Ikhtiar Baig, former SVP FPCCI, has asked the SAPM on Commerce Abdul Razak Dawood to release funds for the payment of the DLTL balance claims of textile sector.

Baig said the Ministry of Commerce had released Rs. 1.3 billion for the payment of textile DLTL claims for 2019-20 and incremental claims for 2018-19, but according to State Bank, the funds were not sufficient to pay the DLTL claims and additional funds were needed to be released immediately to pay the remaining. Baig appreciated efforts of SAPM Dawood to improve the cash flow of the small exporters which would be instrumental to increase the exports of Pakistan.