Finance Minister Miftah Ismail assured the Hosiery Manufacturers and Exporters Association that their tax and other issues would be resolved soon, urging them to expand their export base. The finance minister also directed the relevant authorities to resolve the issues discussed with the representatives of the hosiery and knitwear industries.
A delegation of the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) apprised the Minister of Finance and Revenue, Miftah Ismail, of the issues related to taxation, refund of sales tax, electricity, and gas tariff, etc.
Miftah met with the delegation of the PHMA headed by its Chairman, Mian Kashif Zia, at the Finance Division on August 10.
The delegation highlighted the contribution of the hosiery and knitwear industries to accelerating and providing growth in all sectors of the economy.
Moreover, issues pertaining to the response of commercial banks to the opening of letters of credit (LCs), the drawback of local tax and levies (DLTL), and the Pakistan Single Window (PSW) were also discussed in the meeting.
The Deputy Governor of the State Bank of Pakistan (SBP), a member of the Federal Board of Revenue (FBR), and senior officers from the Finance and Commerce Ministries attended the meeting. Mian Farrukh Iqbal, Dr. Khurram Tariq, Rana Altaf Ahmed, Hafiz Rashid Mehmood, and Mr. Tahir Rehman participated in the delegation.
The Finance Minister, Mr. Miftah Ismail, expressed the resolve of the present government to promote business activities and facilitate the business community to attain sustainable growth in the country.