Advisor on Commerce Abdul Razak Dawood has said that the govt. has released PKR 17.5Bn of refunds to export sectors, adding that ministry’s top priority is to boost SMEs to underpin the national economy. Addressing members of KCCI, Dawood said that the govt. plans to provide other export sectors with due refunds this Jan’20. Despite stiff competition in the world, he said, the country has posted an increase in exports. He said Pakistan meat and poultry items have shown 54% increase in their exports while seafood 34%. The poultry and meat sectors’ exports continue to be shipped to Saudi Arabia and UAE while fisheries are mainly landing at Chinese ports. He said that the govt. has a policy that there should not be any kind of duties on exports and hence, it is evolving a plan in collaboration with FBR. The govt. has to scale up number of products for duty drawback compared to Indian policy of extending facility on 1,000 products. He pointed out that the govt. is evolving a plan to rationalize duty structure. He said that the ministry is mulling over a comprehensive strategy with the help of FBR to introduce export incentives in Budget FY21.
13/01/2020