Heavy taxes hit Pak­istan leather in­dus­try: PTA

The Pak Banker - - NATIONAL -

LA­HORE: Mem­bers of the PLGMEA (leather gar­ments), PFMA (leather footwear), PGMEA (leather gloves) & PTA (Pak­istan Tan­ners As­so­ci­a­tion) have said that heavy du­ties and taxes im­posed by the Fed­eral Gov­ern­ment have been hit­ting the in­dus­try. Ac­cord­ing to press re­lease is­sued by the as­so­ci­a­tion says that low rates of duty draw­back is hurt­ing the leather in­dus­tries ex­ports in Pak­istan as com­pared to the re­gional coun­tries as many of lo­cal taxes be­sides cus­toms du­ties to the ex­tent of about 4 / 5% are not re­funded and ex­port buyer can­not ab­sorb such lo­cal taxes in to­day's com­pet­i­tive in­ter­na­tional mar­ket where all re­gional com­peti­tors are mak­ing full ef­forts to in­crease their share. Ex­port re­bates in re­gional com­peti­tors are much higher than our ex­ports of fin­ished leather and their prod­ucts due to which their cost of do­ing busi­ness is lower and we are un­able to com­pete On top of it a weaker Euro and reval­ued US dol­lar is the last nail in the cof­fin.

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