FAISALABAD: Mian Zahid Aslam, President Faisalabad Chamber of Commerce & Industry (FCCI) has said billions of refund claims in the context of Duty Drawbacks, Sales Tax and R&D are pended with the government. The exporters are facing severe liquidity crunch to fulfill their export orders particularly at this critical stage when exports under EU Autonomous Trade Preference Scheme (ATPS) have also been allowed.

Referring to a news item, he pointed out that government earmarked Rs. 7.5 billion in budget 2012-13 for implementation of Textile Policy (2009-14) but not a single penny has been released to the ministry in the first quarter of the year undermining the effectiveness of policy initiatives. read more