FAISALABAD: The Pakistan Textile Exporters Association (PTEA) has highly praised the federal budget, terming it a balanced and growth-oriented roadmap that will accelerate economic stabilisation, boost industrial competitiveness, and generate massive employment opportunities.
PTEA Patron Chief Khurram Mukhtar said in a statement on Saturday the government presented a balanced budget aimed at driving the country’s export-led growth. He expressed optimism that further steps would be taken to enhance export competitiveness globally, which would simultaneously open up new avenues for employment. Mukhtar added that the budget would significantly boost investor confidence, allowing the business community to operate with peace of mind. He also welcomed the fulfilment of the long-standing demand for tax reduction on the salaried class, noting its highly positive impact.
Corroborating his views, PTEA Chairman Sohail Pasha lauded the government’s dedicated efforts toward economic recovery, industrial expansion, and fostering the ease of doing business. He noted that the budget would not only revitalise economic activities but also directly benefit low-income segments across all sectors. Pasha particularly welcomed the abolition of the Super Tax on individuals with incomes up to Rs500 million and the reduction of the tax rate on exports from 2pc to 1.25pc, stressing that these decisions would provide massive relief to the export sector.
PTEA Vice Chairman Amir Ahmad stated that the measures announced in the budget would pave the way for industrial development. He said a reduction in financing costs would substantially ease the financial stress on textile exporters, strengthening their competitive edge in international markets.
However, Amir Ahmad strongly urged the government to ensure immediate release of long-pending sales tax and income tax refunds. He pointed out that the Pakistani export sector is currently navigating severe challenges, including global economic uncertainty, climate change impacts, and escalating operational costs. Despite these hurdles, he added, the government had made bold, practical, and highly commendable decisions to restore economic stability and back the productive sectors.
