Ahsan Iqbal, Federal Minister for Planning, Development, Special Initiatives & Inter Provincial Coordination, visited PTA’s Office in Korangi – Karachi and was welcomed by Chairman PTA, Mr Hamid Zahur, along with Mr Danish Aman, Vice Chairman PTA, along with several members of the PTA.
The gathering discussed various matters with the Minister sb as below:
Regarding the FBR, Chairman PTA suggested taking the leather sector back to a zero-rated regime and keeping it in the fixed tax regime instead of the final tax regime. He strongly emphasized the timely disbursement of pending refunds of income tax, sales tax and duty drawback to the leather sector, which has been pending for over 4 months.
It was suggested that the business community be involved before making policy decisions, such as the 3%, 6%, and 9% liens on delayed receipt of export payments from our customers due to increased shipping times and lack of vessel availability. The PTA’s recommendations have not been considered when making the annual budget, and it was suggested that the leather sector be consulted and jointly decide on policy matters.
The Trade Investment Officers at various embassies in Pakistan were requested to promote a positive image of the country and enhance trade by organising EPA, PTA and FTA with our key trading partners, such as South Korea, Japan, Vietnam, and now Bangladesh.
While inviting Mr Ahsan Iqbal to the annual Pakistan Mega Leather Show, which will be held in Lahore from January 26 to 28, 2025, the Chairman of the PTA recommended setting up special slaughtering houses and abattoirs, especially for Azha, when around one million animals will be slaughtered during this time, and facilities for storing the skins available will be needed.
The infrastructure and availability of water were also discussed, and the Minister assured us that his involvement would improve the overall situation for the businesses in Karachi.
Exports from the leather sector now account for 85% of the value added and 15% from the raw materials and fur sectors. Further efforts are needed to jointly increase the export secsector’sosector’s29, which aligns with the Planning Ministry’s vision under its flagship URAAN PAKISTAN program.
The meeting ended positively, with Minister SB’s assurance that the PTA would again in February, along with the relevant personnel from the Ministry of Commerce, Finance, and FBR.
PTA is making strong follow-ups with the MiniMinister’sretariat to resolve issues as pointed out during the meeting. In conclusion, Mr Danish Aman, Chairman of PTA SZ, thanked the Chairs, specialy Mr Ahsan Iqbal, for sparing time to attend the meeting.
