Lasbella Chamber of Commerce and Industry (LCCI) President Salim H. Mandviwala has suggested that all the textile items be given Research and Development (R&D) support in the 2008-2009 trade policy.
He noted that in the 2007-2008 trade policy, the R&D support was given to textile sector was restricted to some items exported by Pakistan and its payment procedure was very cumbersome.
To encourage export of new items and to explore new markets, he suggested that R&D support be extended to those sectors, which were not included in the previous policy, and demanded that the procedure of payment of R&D support amount to the exporters should be simplified.
He said that the negotiating bank should collect all the required documents from the exporters for the payment of R&D and pay the same to the exporters at the time on negotiations of export documents.
He noted that the government had adopted new harmonized coding version from June 9,2007. However, the export policy order and import policy order 2007-08, bore old H.S Codes, and in some schedules appendices and annexure, the H.S. Codes were not mentioned at all.
Lasbella Chamber of Commerce and Industry
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