No Result
View All Result
Sunday, June 29, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    Shefali Jariwala

    Kaanta Laga star Shefali Jariwala’s cause of death revealed

    Squid Game, Season 3

    Squid Game Season 3: The brutal game of death shocks fans worldwide

    Shefali Jariwala

    ‘Kaanta Laga’ performer Shefali Jariwala passes away at 42

    Images: Online

    Neeru Bajwa unfollows Hania Aamir on Instagram, deletes Sardaar Ji 3 posts

    file photo

    Hania Aamir’s Sardaar Ji 3 to hit Pakistani cinemas today

    Photo: COURTESY OF NETFLIX

    Netflix’s The Waterfront: Stream it or skip it?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    Shefali Jariwala

    Kaanta Laga star Shefali Jariwala’s cause of death revealed

    Squid Game, Season 3

    Squid Game Season 3: The brutal game of death shocks fans worldwide

    Shefali Jariwala

    ‘Kaanta Laga’ performer Shefali Jariwala passes away at 42

    Images: Online

    Neeru Bajwa unfollows Hania Aamir on Instagram, deletes Sardaar Ji 3 posts

    file photo

    Hania Aamir’s Sardaar Ji 3 to hit Pakistani cinemas today

    Photo: COURTESY OF NETFLIX

    Netflix’s The Waterfront: Stream it or skip it?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

NKATI appeals Razak Dawood to continue DLTL for saving businesses

Arooj Bhatti by Arooj Bhatti
January 19, 2022
Faisal Moeez Khan says closure of drawback will destroy exports, exporters will suffer financial crisis (Photo Online)

Faisal Moeez Khan says closure of drawback will destroy exports, exporters will suffer financial crisis (Photo Online)

KARACHI: Faisal Moiz Khan, President North Karachi Association of trade & industry (NKATI), while expressing deep concern over the lack of clear policy regarding drawback on local taxes and levies, and has been discontinued from 1st July 2022 and all the banks will not take any documents after the date in this regard.

Under this, all banks will not take any documents after July 1, 2022. If the DLTL policy is withdrawn for any reason, it will destroy a business, especially domestic exports, and exporters will face a financial crisis.

In a letter sent to Abdul Razak Dawood, Adviser for Commerce and Investment to Prime Minister Imran Khan, NKATI president Faisal Moiz Khan drew attention that DLTL policy was announced for five years. It is unknown at this time what he will do after leaving the post.

The State Bank of Pakistan is not accepting the documents of the export which is going on from 1st July due to which all the Banks of Pakistan are also refusing. This issue should be resolved immediately and the policy of DLTL should be continued.

“If DLTL is skipped in the middle, it will adversely affect Pakistan’s exports and exporters will be economically disadvantaged and their export will be ruined. It is not possible to export goods as well as taxes from Pakistan, which is one of the impossibilities. If DLTL is not refunded, then it creates a negative impact on exports,” he pointed out.

He further said that it is pertinent to state that in order to improve and enhance exports from Pakistan, exporters have been given calculated facilities/incentives. The objective of these facilities/incentives is to make exports zero-rated, which means that the impact of tax paid is netted off by subsequently allowing refund or input adjustments equivalent to the tax already paid.

NKATI president said that to facilitate exporters, the Ministry of Commerce has provided the facility of duty drawback on local taxes and levies to textile, non-textile & Exporters under SRO. 711(I)/2018. Exporters’ commitment from foreign buyers will also be affected which will also cause irreparable loss to export orders.

The government should adopt a positive strategy in this regard and play its role. Despite the passage of six months’ time, no positive and coherent policy has yet emerged from the Government. Nor have the banks been informed/provided with a comprehensive policy about DLTL.

Faisal Moiz Khan was of the opinion that 17pc sales tax should be withdrawn as the raw material cost has increased tremendously and at the same time shipping freight has also increased along with an increase in cotton prices due to which financial crunch has also increased due to which it has become impossible to compete with the international market. In order to save the export industry sales tax should be zero-rated.

“At the same time, the sales tax that has been imposed on the Export Processing Zone is also inappropriate, which is likely to affect exports. If Pakistan’s exports are affected, then Pakistan will face a never-ending economic crisis due to which trade activities will stop,” he feared.

Faisal appealed to Abdul Razak Dawood, Adviser for Commerce and Investment to Prime Minister Imran Khan, in order to save the business, especially domestic exports from destruction, to continue DLTL policy. It is imperative for the Government to formulate a comprehensive and positive policy on DLTL to facilitate exporters and to inform all banks accordingly.

ShareTweetSendShare
Previous Post

Umerkot’s singer accuses Xulfi of stealing her melody for ‘Tu Jhoom’

Next Post

Sarah Gill becomes Pakistan’s first transgender doctor

Related Stories

representative image
Business & Stock

Gold prices further drop in Pakistan

June 28, 2025
file photo
Business & Stock

Pakistan to export 125,000 tonnes of mangoes worth $100 million this year

June 28, 2025
Foreign Currency
Business & Stock

Foreign currency exchange rates in Pakistan, 28 June 2025

June 28, 2025
Gold Prices
Business & Stock

Gold prices drop in Pakistan amid global downtrend

June 28, 2025
(File)
Business & Stock

Gold price records massive decrease in Pakistan

June 27, 2025
(File Photo)
Business & Stock

PSX surges 2332 points after NA approves budget

June 27, 2025
file photo
Business & Stock

Huge new oil and gas reserves discovered in Khyber Pakhtunkhwa

June 27, 2025
representative image
Business & Stock

Gold rates drop, oil prices surge in international market

June 27, 2025
representative image
Business & Stock

Pakistan’s foreign reserves see  significant drop

June 27, 2025
Image: APP
Business & Stock

PSX opens in green, gains 550 points in early trading

June 27, 2025
Next Post
The 23-year old completed her MBBS from Karachi University (Mashable)

Sarah Gill becomes Pakistan's first transgender doctor

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Image: Online
Thought Box

Who was Musawir Khan Kakar, and what happened with him?

by MM News Staff
June 28, 2025
file photo
Thought Box

How much rain did different areas of Karachi receive today?

by MM News Staff
June 28, 2025
file photo
National

Govt removes PTV fee from electricity bills

by MM News Staff
June 28, 2025
file photo
Top News

PM expresses satisfaction over Bloomberg report on Pakistan’s economy

by MM News Staff
June 28, 2025
file photo
Top News

13 soldiers martyred in Waziristan suicide attack: ISPR

by MM News Staff
June 28, 2025

Opinion

munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
munir ahmed oped
Ceasefire or a Smokescreen? The US-Iran Next Dialogue of Disillusions
June 26, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rain
Top News

Monsoon showers hit Karachi, more rain expected in coming hours

by MM News Staff
June 28, 2025

Rainfall has begun this morning in Karachi, with reports of light to moderate rain...

file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
File photo

Karachi receives heavy rain with thunderstorm

June 26, 2025
See all

Prices

representative image
Business & Stock

Gold prices further drop in Pakistan

by MM News Staff
June 28, 2025

Gold prices further dropped in Pakistan on Saturday in line with a decline in...

Foreign Currency

Foreign currency exchange rates in Pakistan, 28 June 2025

June 28, 2025
Gold Prices

Gold prices drop in Pakistan amid global downtrend

June 28, 2025

Govt increases fixed charges in gas bills

June 27, 2025
See all

Transport News

Maryam Nawaz
Top News

Maryam Nawaz orders 240 electric buses for South Punjab districts

by MM News Staff
June 28, 2025

Chief Minister Punjab Maryam Nawaz directed that 240 electric buses be given on a...

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 2025
(Representational Image)

Sindh Police opens driving school in Karachi amid rising accidents

June 27, 2025
file photo

Fitness certificate made mandatory for motorcycles in Punjab

June 27, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.