The Sialkot Chamber of Commerce and Industry(SCCI) has urged the federal government to release special funds to clear the the backlog of claims under the Ministry of Commerce’s Local Taxes and Levies Drawback (Non-Textile) Order, 2018 and Duty Drawback of Taxes (Textile), 2018.
In a press release issued here today,the SCCI President Qaisar Iqbal Baryar said that one of the biggest issues being faced by the SME-based Export Industry of Sialkot was the liquidity crisis which had aggravated since the COVID-19 pandemic, as the exporters were finding it difficult to manage their operational expenditures despite having confirmed orders.
SCCI President said that exporters relied heavily on the timely clearance of claims under various incentive schemes of the Government.
He lamented that pendency in the clearance of LTLD and DDT Claims had created immense financial problems for the Industry especially in the month of Ramadan during which exporters had to clear the bills of the vendors.
Qaisar Iqbal Baryar shared that a significant number of cases had piled up at the State Bank of Pakistan Sialkot, that were ready for payment but pending clearance.
SCCI President urged the Abdul Razak Dawood(, Advisor to PM on Commerce) that as per the promise of the Federal Government to clear the backlog, all the pendency pertaining to LTLD and DDT cases be cleared to provide essential relief to the export sector of Sialkot.
