Karachi, March 7, 2024 – The All Pakistan Textile Mills Association (APTMA) vehemently rejected the recent surge of 223 percent in gas tariffs over the past year, deeming it highly detrimental to the export-oriented textile industry of Pakistan.
(more…)Tag: APTMA
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FBR Extends Export Facilitation Scheme to Entire Textile Chain
Lahore, February 21, 2024 – The Federal Board of Revenue (FBR) in Pakistan is set to expand its Export Facilitation Scheme (EFS) to encompass the entire textile value chain, according to Muhammad Sadiq, Chief Collector, Customs (Appraisement).
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APTMA Warns of 50% Shutdown in Textile Sector
Karachi, February 14, 2024 – The All Pakistan Textile Mills Association (APTMA) issued a stern warning to the government on Wednesday, cautioning that over 50 percent of firms in the textile and apparel sector are at high risk of shutting down in the coming weeks unless urgent corrective measures are taken.
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IMF Assistance to Address Pakistan’s Immediate Financial Challenges, APTMA Says
Islamabad, June 30, 2023: In a recent announcement, the All Pakistan Textile Mills Association (APTMA) highlighted the crucial support provided by the International Monetary Fund (IMF) to address Pakistan’s immediate financial challenges.
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Severe gas shortage forces textile industry to halt production: APTMA
KARACHI: The All Pakistan Textile Mills Association (APTMA) Tuesday May 23, 2023 announced that the textile industry is being compelled to suspend production due to a severe shortage of gas.
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FBR plans achieving annual target through broadening tax base
KARACHI: Federal Board of Revenue (FBR) is working hard to broaden the tax base for achieving Rs7.5 trillion collection target for fiscal year 2022/2023.
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Business community mourns demise of SM Muneer
KARACHI: Business community has mourned the demise of renowned business leader SM Muneer, who died yesterday on November 28, 2022.
S.M. Muneer business leader of Pakistan who have walked through hard time and become an example to entire Pakistani entrepreneur. The start from the rise of his Din Group of Companies as one of the major business groups in the country is the story of almost 50 years of hard work and perseverance.
The leadership of Businessmen Group (BMG) and Karachi Chamber of Commerce & Industry (KCCI), while expressing deep grief and sorrow on sad demise of Chairman Din Group & United Business Group (UBG) SM Muneer, stated that Late SM Muneer will always be remembered not only by the business community of Karachi but the entire Pakistan for his valuable services to the country.
READ MORE: Member Customs assures swift clearance of export consignments
In a joint statement, Chairman Businessmen Group Zubair Motiwala, Vice Chairmen BMG Tahir Khaliq, Haroon Farooki, Anjum Nisar, Jawed Bilwani, General Secretary BMG AQ Khalil, President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed and Vice President Muhammad Haris Agar stated that Late SM Muneer was a good human being who generously contributed to dedicatedly serve the humanity as he was an active philanthropist. His sad demise has undoubtedly created a vacuum in business politics as he was a person who always raised a strong voice for the rights of business & industrial community.
While extending heartfelt condolences to members of the bereaved family members, friends and well-wishers of Late SM Muneer, BMG & KCCI Leadership prayed that may Almighty Allah place the departed soul in Jannat ul Firdous and grant courage to all of them to bear this irreparable loss.
READ MORE: FTO urges business community to lodge complaints for tax issues
Chairman BMG Zubair Motiwala, who recently assumed charge of Trade Development Authority of Pakistan (TDAP) as its Chief Executive, said that SM Muneer visited TDAP office just two days ago to congratulate him on taking over his new assignment at TDAP. “Late SM Muneer, besides discussing matters of mutual interest, gave valuable advises for improving the exports”, he added and prayed that may Almighty Allah grant higher ranks to Late SM Muneer in Jannat ul Firdous.
Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), SVP Shabbir Ismail, VP Naeem Haider, Akhtar Ismail, Sadiq M, Imran Moiz and Younus Khamisani, have expressed their grief and sorrow over the sad demise of S.M. Munir Bhai Jan. They termed a big loss for the business community.
In a statement, NKATI leaders were of the opinion that S.M. Munir’s outstanding services to the business community will always be remembered.
READ MORE: Business community welcomes appointment of new Army chief
They prayed that Almighty Allah may grant courage to the members of bereaved family to bear this irreparable loss with fortitude and the departed soul may rest in eternal peace.
Former President and Patron in chief SITE Zubair Motiwala, Former President and Chief Coordinator Saleem Parekh, Former President Jawed Bilwani, President Riaz Uddin and office bearers of SITE Association of Industry, have, condoled the sudden demise of KATI Patron-in-Chief S.M. Muneer.
The leaders said that the passing away of S.M. Muneer has created a vacuum in business politics. He was a good human being and his services were acknowledged by the President of Pakistan who conferred on him ‘Sitara-e-Isaar’ and ‘Sitara-e-Imtiaz’ in recognition of his outstanding public service for the cause of humanity.
Zubair Motiwala said that a few days ago, (late) S. M. Muneer came to meet & greet him on his appointment as CEO, TDAP.
READ MORE: APTMA demands restoring controversial SRO for sales tax refunds
They have prayed to the almighty Allah to rest the departed soul in eternal peace, grant him place in ‘Jannatul Firdaus’ and give strength & fortitude to the bereaved family to bear this irreparable loss with equanimity.
M. M. Zubair Motiwala, Patron-in-Chief All Pakistan Textile Processing Mills Association (APTPMA), has expressed heartfelt condolence on the sad demise of SM Muneer, leader of business community.
May Allah the Almighty, rest the departed soul in eternal peace and grant strength, courage and fortitude to the breaved family of Mr. SM Muneer to bear this irreparable loss, Ameen!
“WE ARE FROM ALLAH, TO WHOM WE RETURN”
He said that SM Muneer will be long remembered as a man of conviction and commitment. His demise would create vacuum in business community. May Allah rest his soul in peace!
Pervaz Lala, Chairman APTPMA, Mr. M. Imran, Regional Chairman, Mr. Amjad Jalil, Sr. Vice Chairman, Mr. M. Iqbal Arbi, Saleem Parkeh, former Chairman APTPMA, M. Arif Lakhani, Sikander Imran, Anwer Aziz, all Members Executive Committee and other senior members of the Association have condoled the sad demise. May Allah rest his soul in peace.
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APTMA demands restoring controversial SRO for sales tax refunds
KARACHI: All Pakistan Textile Mills (APTMA) has demanded the tax authorities to restore a very controversial SRO for settlement the issue of sales tax refunds.
The textile millers demanded the FBR to restore SRO 1125(I)/2011 i.e. zero rating for the textile value chain to enable the industry to survive and maintain export momentum.
Gohar Ejaz, Patron In Chief, APTMA, in a letter to Prime Minister Shehbaz Sharif, apprised about an important matter, which resulted in a massive loss of exports as well as significant increase in unemployment.
READ MORE: APTMA urges PM to save textile industry from total closure
“Approximately 60 per cent of the industry has closed or is on the verge of closure primarily due to an extreme liquidity crunch.”
He said that the association had held a series of meetings with the ministry of finance and the ministry of commerce and the FBR starting June 2022 wherein the restoration of SRO 1125 (zero rating) was discussed.
“We request the government to restore 1125 i.e. zero rating for the textile value chain to enable the industry to survive and maintain export momentum in these extremely difficult circumstances,” he added.
READ MORE: APTMA demands immediate release of textile machinery
Sources in the Federal Board of Revenue (FBR) said that the SRO 1125 was rescinded after reports of mega fraud cases by misusing the notification by various quarters.
The Federal Tax Ombudsman (FTO) in a suo moto case in May 2019 directed Federal Board of Revenue (FBR) to conduct audit of all manufacturers who availed the benefit of SRO 1125(I)/2011.
The FTO observed that the review of sales tax registration rules and risk score weightage assigned to the risk parameters employed in the registration process which lead to misuse of ‘manufacturer’ status by registered persons for the purpose of tax evasion.
READ MORE: APTMA suggests measures to avoid Pakistan’s economic collapse
The FTO further observed that the FBR vide SRO 494 (I)/2015 dated June 30, 2015 showed that the IRIS based Sales Tax Registration module failed to timely incorporate the provisions of revised registration rules.
“The requisite changes in IRIS were incorporated after nine months vide SRO 227(I)/2016 dated March 21, 2016.”
The FTO observed that the FBR had failed to take timely action in integrating the registration modules in IRIS system thereby providing opportunity to the unscrupulous elements to take advantage of the weaknesses in the registration procedure of the sales tax department.
“Moreover, modification in the registration module was carried out after nine months of the revision of sales tax registration rules, but evidently no exercise was carried out by the field formation to verify that the existing manufacturers were registered in conformity with the provisions of revised rules.”
READ MORE: Govt. halts gas supply to export industry: APTMA
The FBR through Circular No. 01 of 2019 dated July 26, 2019 explained that SRO 1125(I)/2011 dated 31.12.2011, relating to zero-rating of five export-oriented sectors, has been rescinded since July 01, 2019 vide rescinding SRO 694(I)/2019 dated 29.06.2019.
From July 01, 2019, the items listed in the said SRO shall be charged to sales tax at 17 per cent at import and local supply. Only in case of integrated retail outlets, sales tax on finished textile and leather item shall be charged at 14 per cent.
All STGOs granting zero-rating on supply of electricity, gas, diesel, furnace oil and coal have been rescinded vide STGO 100/2019 dated 29.06.2019. In order to resolve the issue of increased sales tax refunds of exporters due to withdrawal of zero-rating on inputs, the scope of Expeditious Refund System is proposed to be extended with automated payment on generated RPOs.
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APTMA urges PM to save textile industry from total closure
KARACHI: All Pakistan Textile Mills Association (APTMA) has urged Prime Minister Shehbaz Sharif to save export oriented textile industry of Sindh and Balochistan from total closure due to denial of gas.
In a statement issued on Monday, APTMA Chairman Zahid Mazhar, Southern Zone has urged the Prime Minister of Pakistan, Mian Shahbaz Shareef and the Chief Minister of Sindh, Syed Murad Ali Shah for their intervention to save export oriented textile industry of Sindh and Baluchistan from total closure due to denial of gas from November 15, 2022 to February 28, 2023.
READ MORE: APTMA demands immediate release of textile machinery
Zahid Mazhar said that the export oriented textile industries of Sindh and Baluchistan are contributing more than 54 percent in total exports of Pakistan have been served notices of gas closure without taking in confidence the real stakeholders in respect of gas closure for three and half months even though the two provinces are producing more than 80 percent of gas produced in the country.
He further said that due to extremely low gas pressure and frequently unavailability it is very difficult for the export oriented textile industries located in Sindh and Hub Industrial Area to run the mills and fulfill their export commitments well in time.
READ MORE: APTMA suggests measures to avoid Pakistan’s economic collapse
Zahid Mazhar further said that the textile industry is an export oriented industry running on 24/7 basis and almost all of our member mills are using natural gas as fuel for generation of electricity to meet their energy requirements and or to run their processing units.
Hence if they will be forced to consume only 50 percent of their load, they will not be able to run their mills smoothly and fulfill their export commitments on time resultantly they would not only lose their hard earned foreign buyers as well as the foreign exchange earned by the country through exports would also be curtailed which is the need of the hour.
READ MORE: Govt. halts gas supply to export industry: APTMA
He said that APTMA member mills are very much disturbed after receipt of SSGCL’s notices of gas closure for three and half months. He further said that gas closures for export oriented textile industry would be the last nail in the coffin of the economy of Pakistan and resultantly Pakistan would lead to default in payment of the foreign obligations and the currency rate would deteriorate further and reach a point of no return.
Chairman APTMA Southern Zone said that the government should take appropriate measures to ensure gas supply to export oriented industries, instead of complete gas outages, which would lead to a huge decline in exports and revenue, closure of industries, and layoffs.
READ MORE: APTMA demands continuation of energy tariffs
Zahid Mazhar urged the government and gas supply companies to provide gas first to export oriented industries including textile to run their mills without any disruption so that they can fulfill their export commitments in time otherwise they would be compelled to shut down their mills resulting in massive decline in foreign exchange earnings through exports and increase in unemployment which will result in a law & order situation.