Cut in duty drawback rates lambasted
The Pakistan Tanners Association, (PTA), has slammed the Central Board of Revenue’s (CBR) move to slash duty drawback rates on leather exports. Mr Naseem, chairman of PTA claimed the plan would affect the leather industry greatly and criticised the fact that the PTA had not been consulted on the decision.
He accused the government of imposing measures to counteract any incentives it had offered in the budget. Naseem added that the government had been lobbied to increase the duty drawback rate on exports of finished leather by three per cent to maintain a viable position in a competitive global market.
He further criticised the lack of notice before the implementation of the plan, claiming that the industry would not have enough time to adjust to the cuts.
