KPTMA Refutes Any Link With Tax Fraud Case

Faizan Hashmi Published February 22, 2024 | 06:20 PM

The Khyber Pakhtunkhwa Textile Mills Association (KPTMA) has vehemently refuted a claim circulating in certain sections of the press alleging tax fraud amounting to Rs. 1.4 billion through the misuse of the Export Facilitation Scheme (EFS) by a so-called textile unit in Khyber Pakhtunkhwa

PESHAWAR, (UrduPoint / Pakistan Point News - 22nd Feb, 2024) The Khyber Pakhtunkhwa Textile Mills Association (KPTMA) has vehemently refuted a claim circulating in certain sections of the press alleging tax fraud amounting to Rs. 1.4 billion through the misuse of the Export Facilitation Scheme (EFS) by a so-called textile unit in Khyber Pakhtunkhwa.

In a statement issued here on Thursday, the Khyber Pakhtunkhwa Textile Mills Association (KPTMA) clarified that the so-called textile unit has no affiliation with their organization, saying the association condemns the actions of this unit and urged the authorities to take strict action against those involved in tax evasion.

In a recent development, it has been revealed that a so-called textile unit, which exists only on paper with no physical presence, operating in the Federally Administered Tribal Areas (FATA), has been involved in tax fraud, evading taxes worth billions of rupees.

KPTMA underscores that its members boast a legacy of integrity and accountability, spanning back to the 1960s.

Textile mills under the KPTMA umbrella are situated at prominent locations like Gadoon, Swabi, Mardan, Peshawar, Kohat, Bannu, and Dera Ismail Khan. Notably, these mills operate within regulated industrial zones, adhering strictly to legal frameworks and governmental guidelines.

The families associated with these enterprises have upheld ethical business practices predating even the partition era.

KPTMA reiterates that its members recognize the importance of fulfilling governmental obligations, including the timely payment of utility bills and taxes, to sustain the smooth functioning of governmental operations.

KPTMA has also emphasized the importance of transparency and accountability in the textile industry and has called for all textile units to comply with tax regulations and other legal requirements.

The association has assured the public that they will continue to work towards promoting ethical and responsible business practices in the textile sector.

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