Hit by the rising rupee, engineering, pharma and textile goods exporters of Punjab have demanded Central intervention for compensation. The exporters have also demanded exemption from entry and house tax. | |
| Speaking to Business Standard, Punjab Chamber of Small Exporters Senior Vice-President Ashwini Kohli said, "We welcome Finance Minister P Chidambaram and Commerce Minister Kamal Nath's statements that the states should refund local taxes like VAT and octroi on exports, but we demand Central intervention for the implementation of these proposals." |
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| He said the state governments should make immediate payments of various tax refunds that were pending since more than ten months. The non-refund had forced the exporters to pay huge interests, he added. |
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| Exporters are also facing a crisis in the form of huge stocks that are piling up. All this may eventually lead to unemployment, he said. |
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| Rising prices of raw material had made the situation worse despite a good demand for export goods, another exporter said. |
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| Moreover, there was a stiff competition in the international market making things more difficult, he added. |
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