Business
April 24, 2021
ISLAMABAD: Ministry of commerce has released Rs2.5 billion under drawback on local taxes and levies (DLTL) in line with the longstanding demand of industries that are facing liquidity crunch due to unsettled funds, commerce adviser said on Friday.
“MoC [ministry of commerce] has released Rs1,154 million for the non-textiles sector and Rs1,346 million for the textiles sector, a total of Rs2,500 million under DLTL schemes,” Adviser to Prime Minister for Commerce and Investment Razak Dawood wrote on Twitter.
“Hope this will resolve the liquidity issues of our exporters and enable them to enhance exports,” Dawood added.
Textile sector that accounts for over 60 percent of the country’s exports has been calling for release of stuck refunds and rebates to get out of liquidity crunch.
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