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Exporters urge govt not to impose RGST on zero-rated sectors - Lahore_Real_Estate - 12-04-2010 01:12 PM
ISLAMABAD: Exporters have urged the government not to impose General Sales Tax (RGST) on five zero rated sectors of industry.
“It is not an appropriate time to break the zero-rating regime for textile chain because the export- oriented industry is already standing on dying edge due to increase in the utility costs,” Javed Bilwani, Chairman Pakistan Apparel Forum, said while addressing a press conference here.
He, however, stated that the exporters were not against the RGST imposition on local sales. They were even ready to pay the GST on their useable wastage.
The SME sector will be affected due to imposition of RGST because their liquidity is not enough to be blocked. Their working capital is very short and they are hardly surviving, he added.
Rana Muhammad Mushtaq, Chairman of All Pakistan Value-added Textile Forums said that the government should impose agriculture income tax. He further said that the government should take measures to stop leakages in the tax collection system.
Rana Mushtaq, said that if RGST is imposed on the zero rated sectors all the exporters would go on strike.
“We exporters particularly SME sector of Sialkot, cannot run their business if zero rated regime abolished and ultimately there would be huge closure of industry which would be resulted in increase of unemployment in the country”, he added.