Businesses

Non-textile sector DLTL refunds approved

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.

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.

Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Source |

LATEST POSTS

TaxUrdu.com

Related posts
Businesses

Suzuki Cultus Car to Discontinue in Pakistan

Pak Suzuki Motor Company (PSMC) has decided to discontinue Cultus car. According to media reports…
Read more
Businesses

E-Filing System Implemented in Government Departments

The National Information Technology Board (NITB), a department of the Ministry of Information…
Read more
Businesses

How to Make Money on Amazon in Pakistan

In Pakistan now a days everyone wants to know How to earn money from Amazon in Pakistan? here we…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

    Leave a Reply

    Your email address will not be published.