Pakistan’s commerce ministry has released Rs 6 billion under duty drawback on local taxes and levies (DLTL) scheme that may improve the liquidity problems of exporters, according to advisor to prime minister on trade and investment Abdul Razak Dawood, who recently said this includes Rs 5.6 billion for the textile sector and Rs 400 million for the non-textile sector.
To raise exports, the government has initiated a 'Make in Pakistan' trade policy, which aims to introduce Pakistan's traditional and non-traditional export sectors and local products in the international trade market.Pakistan's commerce ministry has released Rs 6 billion under duty drawback on local taxes and levies scheme that may improve the liquidity problems of exporters, according to advisor to prime minister on trade and investment Abdul Razak Dawood, who said this includes Rs 5.6 billion for the textile sector and Rs 400 million for the non-textile sector.#
Dawood some time back expressed hope that by fiscal 2022-23, the country's exports would reach $50 billion by following the policy of trade diversification in potential trade sectors and markets.
As per the Pakistan Bureau of Statistics (PBS), during fiscal 2020-21, exports increased by 18.3 per cent to $25.3 billion compared to $21.4 billion in the previous fiscal.
Meanwhile, Pakistan’s exports figures during the first month of the current fiscal year amounted to $2.3 billion, the highest figures in July showing a percentage growth of 17.3 per cent compared to $2 billion in July last year.
ALCHEMPro News Desk (DS)
marketing@alchempro.com
