Federal government takes important decision over Export Enhancement Package

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Federal government takes important decision over Export Enhancement Package

ISLAMABAD: The National Assembly was informed on Thursday that government has extended the export enhancement package for another three years with the same previous conditions to encourage non-traditional exports of the country.

Parliamentary Secretary for Textile Aliya Hamza Malik told the House that under this package new export sectors such as transport equipment, auto parts and accessories; machinery including electrical machinery, furniture, stationary, fruits, vegetables, meat and meat preparation including poultry have been included.

She said gas tariffs for LNG have been lowered for Punjab to bring it at par with other provinces whereas there has been no increase in gas prices for export industries including jute, carpet, textile, sports goods, leather and surgical goods.

To a question she said under economic package to support economic growth, customs duties and regularity duties on 236 tariff lines of raw materials and intermediate products have been reduced.

She said cotton yarn duty has been reduced to 0pc from 10pc while export rates have been increased by 3pc for exporters.

To a question, the parliamentary secretary told the house that low electricity cost will reduce the cost of doing business adding tariff increase is not going to affect major exports.

Regarding trade with India, she said amid recent tension with India over Kashmir issue the National Security Committee (NSC) meeting decided to halt all the bilateral trade with India while details of on-going trade would be shared later on. She said that Pakistan’s imports were reduced in the last 10 months and exports have increased which was a positive indicator for the economy.

Economy