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Minister urged to resolve issue of refund claims of withholding tax

Minister urged to resolve issue of refund claims of withholding tax

MULTAN: The textile sector in Pakistan has an overwhelming impact on the economy and contributes 57% to the country’s exports, said Minister of State for Commerce and Textile Haji Muhammad Akram Ansari.

Talking to a delegation of the Pakistan Cotton Ginners Association (PCGA), he said, “In the highly competitive global environment of today, the textile sector needs to upgrade its supply chain, improve productivity and maximise value-addition to be able to survive.” The minister assured of resolving problems faced by the ginning industry.

Speaking on the occasion, PCGA Chairman Muhammad Akram apprised the minister of their grievances like stuck refund claims of withholding tax and unjust and embarrassing notices of the Federal Board of Revenue (FBR) to ginners. Akram demanded that the ginning industry be exempted from sales tax on electricity and withdrawal of cotton standardisation fee.

The minister assured that the issues would be referred to the concerned ministries.