Enhance rate of duty drawback to 7%: Pakistan’s SCCI
The rate of duty drawback on both non-textile and textile products should be enhanced to 7 per cent to achieve export targets, according to Sialkot Chamber of Commerce and Industry (SCCI) president Muhammad Ashraf Malik, who recently said incentive schemes for exporters are vital to keep the industry competitive in the international market.
The COVID-19 pandemic has opened new avenues of trade for exporters that include manufacturing and export of personal protective equipment (PPE), he said in a statement in Sialkot, a major centre for sportswear exports.
He said this is the right time for the country to gear up for proving its mettle in the PPE industry as its market size is expected to grow to $87.67 billion by 2027, Pakistani media reported.
He stressed that facilities by the federal government to provide exporters with special electricity and LNG rates at US cents 7.5 per kWh and $6.5 per MMBTU should continue for at least two years.
The incentive in energy inputs would allow the exporters to fight against international market pressures by the competition, he added.
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