Industries in Pakistan have been granted a total sum of Rs 6 billion under the Drawback on Local Taxes and Levies (DLTL) schemes, announced Abdul Razak Dawood, the adviser to the prime minister on Commerce and Investment, on Tuesday.
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Ministry releases Rs2.5 billion under DLTL to support exporters
ISLAMABAD: The ministry of commerce has released Rs2.5 billion under Drawback of Local Taxes and Levies (DLTL) to support the exporters in resolving liquidity issues.
Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce and Investment, in a tweet on Friday said that the ministry of commerce had released Rs1.15 billion for the non-textile sector and Rs1.35 billion for the textile sector under DLTL schemes.
“Hope this will resolve the liquidity issues of our exporters and enable them to enhance exports,” Razak Dawood said.
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Ministry approves DLTL claims worth Rs213 million: Razak Dawood
ISLAMABAD: The ministry of commerce has approved Rs213 million against claims of drawback of local taxes and levies (DLTL) by non-textile sector, Abdul Razak Dawood, Adviser to Prime Minister for Commerce and Investment.
“These are now with State Bank of Pakistan (SBP) and will soon be disbursed to the relevant exporters,” the adviser said this on his official twitter account.
“Our policy is not to put any working capital constraints for our exporters, he said.
“I hope that this will facilitate them” he added.
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Commerce ministry extends date for submitting DLTL claims
KARACHI: The ministry of commerce has extended the last date for submission /resubmission of claims of Drawback of local Taxes and Levies (DLTL).
The State Bank of Pakistan (SBP) on Monday informed banks that the commerce ministry extended the date for claiming DLTL.
The central bank said that in terms of Commerce Division, Ministry of Commerce & Textile’s letter F.No. 5(2)/2017-SO(M&I) dated July 30, 2019, it has been decided to extend the deadline for submission/ resubmission of claims from claimants to Authorized Dealers (ADs) under Para 1(4)(a) and 1(4)(d) of the subject Order till August 15, 2019.
Further, the deadline for submission of the claims from ADs to the field offices of State Bank of Pakistan – Banking Services Corporation (SBP-BSC) shall be August 30, 2019.
Likewise, the last date for submission of incremental claims from exporters to ADs under Para 1(4)(b) of the subject Order, shall be October 16, 2019 and from ADs to SBP-BSC October 31, 2019.
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FPCCI recommends single digit sales tax rate
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed reducing sales tax to single digit from existing 17 percent. In its pre-budget conference on Wednesday, the apex trade body present its set of proposals for budget 2019/2020.
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