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Exporters to get incentives in budget, says
Humayun
ISLAMABAD (April 30
2004): Commerce Minister Humayun Akhtar Khan on
Thursday said the government would announce a
number of measures in the upcoming federal budget
to boost country’s exports.
"The government is also working to give incentives
to exporters in the coming federal budget for the
fiscal year 2004-2005 to review the structure of
import duties on machinery to enhance the
industrial output in the country to boost up the
trade," he said in a panel interview to The News
and Jang here.
He said under the new incentives, the proposal is
there to improve the Duty and Tax Remission on
Exports (DTRE) scheme and to remove the loopholes
in SRO 410. "The duty structure for the import of
machinery for the gems and jewellery sector, food
processing sector, horticulture sector, marbles
and minerals would be reviewed," he added.
He said in the new trade policy the emphasis would
be given to explore new markets for exports,
improve the quality and standard of exports and
meet the challenges of the textile quota regime
under the World Trade Organisation (WTO).
When asked about the export target, he said at the
moment we are in consultation process with all the
stakeholders before fixing any export target for
the next fiscal year. "The export performance
during the current fiscal year is going according
to the expectations and we will be able to achieve
the export target of $11 billion fixed for the
current fiscal year," he added.
He was of the view that if the issue of sales tax
refund and man-made fibre were settled in the
country then the exports could fetch $20 billion
within next few years. "We are determined to
enhance the exports and would be able to reach
this target within next few years," he added.
Humayun Akhtar said the commerce ministry was
reviewing the implementation of the current trade
policy on monthly basis and all the stakeholders
were invited to meetings so that problems, if any,
would be removed.
Regarding the textile cities, the commerce
minister said the land for the textile city at
Port Qasim has been acquired and the development
work would start soon. The minister assured all
the stakeholders that Pakistan would be doing well
in the post-quota regime. "Our industrialists and
manufacturers would have to address seriously the
issues of quality and standards, sanitary and
phyto-sanitory conditions, and social compliance
because in the post-quota regime these issues
would be used as non-tariff barriers," he added.
He said in the last year’s trade policy, the
commerce ministry took a number of initiatives
aimed at improving the productivity of exporters,
making their products more cost effective and
enhancing the role of government as a facilitator.
The News
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Pakissan.com; Advisory Point
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