| |
Pakistan:EPB ready to compensate textile exporters even as smuggling stifles the sector |
|
2004-11-29
|
|
 |
Subject to certain pre conditions, The Textile Quota Management Directorate (TQMD) of the Export Promotion Bureau (EPB) compensate exporters who may lose out where the US government will impose embargo for Pakistan.
The EPB will air lift consignment of such exporters with the help of PIA (Pakistan International Airlines) who are unable to ship their goods to the USA in the embargoed categories.
PIA will tranfer the cargo from Karachi to New York. The period of this air lifting facility will be offered between January 1 to January 20.
As a statutory requirement to qualify for this facility, exporters will have to submit confirmed orders L/C, shipment schedule and proof of balance quota in the respective category pass book of the exporter.
Meanwhile in a parallel development, Abdullah Yousaf, chairman of the Central Board of Revenue (CBR), announced that a high level committee would be constituted to suggested ways and means to stop smuggling of clothes from China and other countries.
He sought proposals from the business community in this regard.
Expressing concerns of the government over rise in smuggling, Yousaf said it is destroying the local industry. He also sought proposals from the local manufacturers in this regard, so that the local clothes industry could improve.
Yousaf said World Trade Order (WTO) would not affect the country’s exports instead local exporters would get more access from January 2005 to explore new markets throughout the world under the regime.
He said China has signed WTO but it would formally enter into WTO after three years therefore there is a great opportunity for the country to capture the world market. “The federal government would not change any tariff structure after the implementation of WTO regime, as exporters would not be affected by it.”
He said the government is striving hard to make local products competitive in the global markets by reducing different tariffs and added customs reforms would also help bring down the production cost.
In this regards, he said that several reforms in key sectors like customs, sales tax refunds, income tax exemption for textile sectors was being envisaged.
He also stated that smuggling, which continues to eat into the vitals of the country’s economy, both through Afghan transit trade as well as Iran, has now been further accentuated through other routes such as China. |
|
|
|
|
|
浙公網(wǎng)安33010602010414
