LAHORE ( STAFF REPORT )
Pakistan Footwear Manufacturing Association (PFMA) has welcomed Government decision to revised rebate for footwear Industry. Federal board of revenue has issued notification effective from 26th Nov 2020 on wards revising rebate on Leather shoes from 1.82% to 4.70%. it is very encouraging gesture from Government to support the local Footwear Industry to increase their market share on international arena. It’ll allow local footwear manufacturer to be more competitive in international market and enhance their capacity to produce high quality products both for Local and International customers.
Recently, Italy-Pakistan Footwear Technological Centre (IPFTC) has been established to enhance quality of Footwear products in Pakistan by introducing modern machinery and equipment to bring it at par with International standard. With this notification, Footwear Industry can acquire raw material at competitive rates to produce high end products for International and local customers. Thus, enabling the Footwear industry of Pakistan to increase its exports to elevate its ranking among top Footwear producers in the world.
PFMA Chairman Mr.Imran Malik has praised Government move “ We are thankful to Mr. Abdul Razzaq Dawood and Ministry of Commerce for providing this relief to footwear Industry of Pakistan. It has come at very crucial juncture when Pakistani local Industry is most effected by COVID-19 situation which lead to increase in unemployment ratio and economic slowdown in the country. This decision will help footwear Industry to produce high quality leather Shoes at very competitive price to meet international standards and capture more market share. With increase in exports, Footwear Industry will help Government to counter unemployment and contribute towards earning Foreign exchange with less reliance on Import”.