Govt requested to formulate a five year export policy.

Islamabad: Dawlance Chief Executive Officer (CEO) Umar Ahsan Khan has requested the government to introduce a five  year export policy for the country’s engineering sector by offering incentives to increase non-traditional exports, a news source reported.

https://1.bp.blogspot.com/-MiwWOys8gFk/XkKH6k_wcXI/AAAAAAAAD5M/w86TsCTfHqQOUe9ciHk_N42Fpu3m2xRnQCLcBGAsYHQ/s1600/Pakistan.webp

Exporters request govt to release sales tax refunds

Currently, Pakistan’s primary export pool consists of textile and surgical goods. A new policy is required to transform that trend and engineering good has a potential of nearly USD 10-12 billion.

KPCCI calls for simple export procedures

He said that in the engineering sector, the total tax amounts to something as high as 40% including the 29% corporate tax. He said such taxes make exports uncompetitive in the region when compared with prices of products sold by Thailand, India, and Bangladesh. He said that 20 years ago, Turkey’s export volume was equal to that of Pakistan but Turkey kept improving the quality of its products. Now the volume of Turkish exports is four times higher than Pakistan, he added.