All Pakistan Textile Mills Association (APTMA) chairman Kamran Arshad has urged Ministry of Finance to include the recommendations of traders and businesses for the upcoming budget for the fiscal year 2025-2026, reported 24NewsHDTV Channel.
In a letter to Finance Minister Muhammad Aurangzeb, APTMA seeks time from Finance Minister on budget recommendations.
APTMA has demanded of the government that import of cotton yarn and fabric should be stopped in EFS scheme, export industry should be provided electricity at 9 cents per unit and textile industry should be allowed to import LNG.
APTMA chief opined that the correct price of grid levy should be determined, the cross subsidy of Rs100 billion of the export sector should be abolished and the export industry should be allowed to purchase electricity on a business-to-business basis.
APTMA has demanded of the government to end one percent advance income tax on export earnings besides double taxes on textile industry.
APTMA chairman Kamran Arshad said Finance Minister had claimed in the last budget speech that the Export Facilitation Scheme will be restored but despite a year of efforts, the EFS scheme could not be restored in the form of June 2024.