All Pakistan Textile Mills Association (APTMA) has announced protest demonstration against heavy taxation being imposed by the government, reported 24NewsHD TV channel.
Addressing a press conference, APTMA chairman Asif Inam said the textile sector was suffering from crisis due to ill-conceived policies. He claimed that with the implementation of SRO 350, textile factories were shutting down.
Asif Inam said the closure of the textile sector will increase unemployment in the country as textile industry was suffering severe losses.
APTMA demanded of the government to end the oppressive tax system and sought immediate amendments in tax system to avoid further damage to the sector.
Chairman Aptma said there was need to end sales tax on local supply in industry. He also demanded of the government to restore zero rating for exporters.
APTMA leader claimed that tax policies were destroying the textile sector and putting the jobs of hundreds of workers at risk. Asif Inam demanded abolition of sales tax to increase domestic value addition. He claimed that 40 percent of the spindles of the textile industry are defunct.
Chairman Aptma claimed that the government’s tax measures were accelerating industrial decline in Pakistan. He demanded that zero rating to be restored under EFS.
Reporter: Waqas Azeem