Pakistan’s textile ministry has reportedly proposed extending the prime minister’s export package worth Rs 180-billion to the next fiscal, which starts this July. The suggestion was said to be part of the ministry’s budget proposals. Announced in January 2017, the package’s first part ended on 30 June last year and the second part will conclude this June end.
Most part of the package dealt with the textile sector. The Pakistani Government has so far paid around Rs 20 billion against claims of Rs 41 billion in both phases, according to a report in a Pakistani newspaper.Pakistani textile ministry has reportedly proposed extending the prime minister's export package worth Rs 180-billion to the next fiscal, which starts this July. The suggestion was said to be part of the ministry's budget proposals. Announced in January 2017, the package's first part ended on 30 June last year and the second part will conclude this June end.#
The ministry also recommended reduction in tariff rationalisation surcharge by 50 per cent and immediate payment of the sales tax liability and custom duty drawback refunds of Rs 35.5 billion and Rs 7.5 billion respectively. The surcharge is now Rs 3.10/KwH and it will cost Rs 26 billion per year.
Zero rating of packing material may be extended to export-oriented sectors, the ministry proposed. (DS)
Fibre2Fashion News Desk – India
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