Pakistan’s leather export targets reduced
The chairman of the Pakistan Tanners Association (PTA) has urged the country’s Export Promotion Bureau (EPB) to promote the country’s leather industry instead of reducing its export targets.
The EPB lowered the target from $672 million to $590 million. However, between July 2002 and February 2003 leather exports were down by just 1.5% compared with the year earlier.
PTA chairman, Mr S M Naseem also called for the waiving of Export Development Surcharges (EDS) and has criticised tax refunds procedures, which he says are cumbersome and entail long delays. Naseem said that only draw back rates on finished leather should be increased, by at least 3%, to exempt raw hides and skins from sales tax. He added, however, that the leather industry has benefited from reductions in lending rates and export refinance charges.
