Textile exporters seek relief package to mitigate Covid-19 impactsLAHORE: The textile exporters fear zero sales turnover as all the international markets including the European Union and the United States have closed port operations in the wake of coronavirus (Covid-19) outbreak. Agreeing with Sheikh, APTMA Punjab’s Senior Vice Chairman Abdul Rahim Nasir said that some textile exporters have closed their operations for three to five days to get a clear picture of the scenario. Nasir demanded that the government must ensure sales tax and drawback on local taxes and levies (DLTL) payments to industry within two weeks. Ijaz added that out of $14 billion textile exports, the balance $10 billion is subject to 12.5 percent interest rate. Naveed Gulzar, a textile miller from Faisalabad, predicted that unfortunately textile exporters’ sales revenue is likely to go to zero in the next week or so.

Source: Pakistan Today March 21, 2020 09:45 UTC