Commerce Minister Pledges Tax Relief for Sports Goods Exporters

ISLAMABAD: The Government is steadfast in its commitment to reducing the tax burden on exporters, the Minister for Commerce, Mr. Jam Kamal Khan, assured industry representatives during a key meeting with the Sectoral Council for Sports Goods.Change in Tax Regime for Exporters: Textile Earnings Set to Decline

The virtual meeting, held at the Ministry of Commerce, focused on addressing the challenges faced by the sports goods industry, with particular attention to taxation and energy production policies.

During the discussion, the Minister pledged to reconsider the current policy that imposes a cap of 100KW on solar energy production for export-oriented industries.

This move is expected to alleviate operational constraints and enhance the competitiveness of the sports goods sector, which heavily relies on sustainable and cost-effective energy solutions.

Furthermore, Mr. Jam agreed to present the industry’s proposals to the National Export Development Board, advocating for the retention of the Fixed Tax Regime.

Exporters emphasized that this regime is crucial for shielding them from the potential harassment associated with the Normal Tax Regime, which involves multiple tax departments.

The meeting underscored the Government’s ongoing efforts to foster a conducive environment for exporters, particularly in the sports goods sector, which is a significant contributor to the country’s economy.