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Silk merchants urge government to amend DTRE
scheme
While talking to Business Recorder here on
Thursday, the Association's general secretary
Muhammad Younus Qureshi said that the DTRE has
been copied by the authorities concerned assuming
its successful functioning in as many as 90
countries and implemented as it is, without
envisaging its bright and dark angles.
"Indeed the world is very wide and information
technology has converted it to a global village.
However, if system functions smoothly in certain
countries of this global village, it does not mean
that the same system will function in the same
manner in Pakistan," he added.
"The yarn imported under the DTRE scheme is being
sold in the open market rather at much lower price
of the commercial importers' landing costs."
Citing an example, Qureshi said, "Polyester Flat
Yarn commercial importers pay aggregated volume of
55.69 percent (Customs duty, Sales tax and Income
tax) over and above the Import Trade Price,
whereas the importers registered under the DTRE
scheme pay nothing.
It means that if the DTRE importers sell their
goods at 10-15 percent reduced price of the
landing costs of commercial importers, how the
commercial import would continue to be viable. As
a result, the national exchequer is being caused
double loss," he maintained.
"DTRE importers are allowed 18 months to account
for the import made, in their exports," he said,
adding, "this period is excessive and needs to be
reduced to six months maximum in order to enable
the DTRE importers to use the imported yarn within
their own manufacturing units."
He said that pre-clearance of goods from the
ports, goods imported under the DTRE scheme, each
and every carton should be stamped that "Imported
Under DTRE Scheme" and not for commercial sale.
Through a notification, it's sales in the
commercial market should be banned. "In case, the
proposal seems to be impractical, the banks must
include a clause in the Letters of Credit," he
said.
"We must have to do one way or the other to
control the sale of goods imported under the DTRE
scheme in the open market, to protect the revenue
collected against commercial imports," he
maintained.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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