Published On: Sat, Jun 1st, 2019
Published in Category: Lahore

PHMA for continuation of zero-rating regime for SME export sector

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Lahore: The Pakistan Hosiery Manufacturers Association (PHMA) on Friday urged the government to continue the sales tax zero-rating regime for five export-oriented sectors in the budget 2019-20, representing mainly SMEs, as suspension of this facility will not only undermine the initiatives of the government to spur exports but also discourage investment which is necessary for growth.

In a joint meeting of Pakistan Hosiery Manufacturers Association (PHMA) and Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) held here at PHMA House on Friday, the chairman Adil Butt demanded continuation of the zero-rating scheme in the national interest and uplift of exports. He said that the five zero-rated sectors are already documented and contribute 60% of total national exports in addition to generating 40% of total employment.