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Businesses

Non-textile sector DLTL refunds approved

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To facilitate exporters, the Ministry of Commerce has approved Rs. 213 million under the ‘Draw Back of local taxes and levy (DLTL) refunds for the non-textile sector.

“I am pleased to announce that Rs 213 million has been sanctioned for DLTL payments in the non-textile sector,” Abdul Razzaq Dawood, Advisor to the Prime Minister on Trade and Investment, said in a statement on Wednesday.

Abdul Razzaq Dawood | Advisor on Trade & Investment |

Abdul Razzaq Dawood Tweets

State Bank of Pakistan (SBP) holds the such funds and will provide to the concerned exporters soon, the adviser said. “Our policy is not to impose any barriers to business capital for our exporters,” he said. He added that he hoped the payment would make it easier for non-textile exporters.

Despite the global economic slowdown caused by the COVID-19 epidemic, Pakistan’s non-textile exports have seen healthy growth. During July-December 2020, pharmaceutical exports increased by 25% to US138 million, ethyl alcohol (industrial) by 14pc to US182 million, tobacco and cigarettes by 84.50pc to US29 million, and processed foods by 120pc. Reached Usd25 Million.

See also  500,000 Retailers Targeted by FBR to Boost Revenue

Earlier, in December 2020, Pakistan’s exports increased by 18.3pc to 2.357 billion. As compared to US 1.993 billion in December 2019, an increase of US 364 million over December 2019.

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