PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

37-H, BLOCK-6 P.E.C.H.S., KARACHI-PAKISTAN

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-34543774

E-MAIL: info@phmaonline.com URL www.phmaonline.com

Ref. No. PHMA/Cir-001/2016

Dated: 7^th January, 2016

TO ALL MEMBERS OF THE ASSOCIATION

Drawback of Local Taxes and Levies 2015-16

This is to inform all our valued members that Ministry of Textile Industry ?s Notification no 1(41)TID/14-RDA dated August 26, 2015 had announced 4% Drawback of Local Taxes and Levies Scheme on FOB realized value of 10% incremental exports during 2014-15 as compared to 2013-14.

Kindly note that ?Only Weighted Average Customer Exchange rate issued by Domestic Markets and Monetary Management Department of State Bank of Pakistan (SBP) on the date of realization will be used for all transactions. www.sbp.org.pk/ecodata/Rates/WAR/WAR-History.asp

PHMA counter are now set to receive applications for processing the DLTL claims.

The service charges for processing and authenticating the claim application at PHMA will be 1% of claim amount subject to minimum Rs 10,000/=.

Last date for the claim applications to reach State Bank of Pakistan is 31^st March 2016 while the last date for receiving at PHMA Counter is 15^th March, 2016.

Thanks & Best Regards,

Yunus Bin Aiyoob

Secretary General