Karachi: Zubair F. Tufail, President of the Federation of Pakistan Chambers of Commerce and Industry highly appreciated and acknowledged the services of S. M. Muneer, Chief Executive Trade Development Authority of Pakistan (TDAP) for playing an instrumental role in the package announced by Prime Minister for exporters. He indicated that this package will provide relief to the exporters and boost the exports of Pakistan which are continuously showing a declining trend for the last three years.
The President FPCCI hoped that the package would help achieve the objectives of an export-led growth and will revive the industries of Pakistan, particularly the textile industries, which have been highly affected due to an international recession, regional competitiveness and the high cost of doing business. He added that under the package, sales tax and customs duty on the import of textile machinery, cotton and man-made fibres are abolished.
Moreover, the new duty drawback rates was decided for textile garments (7%); textile made-ups (6%); processed fabric (5%); yarn and grey fabric (4%); while sports goods, leather and footwear will be taxed at 7%, he added. He expected that the incentives and support to exporters would definitely address the challenges being faced by exporters on a sustained basis and have met the long aspirations of the industry.
Zubair Tufail also appreciated S. M. Muneer for his efforts making TDAP a corporate and corruption-free entity and it is expected that the exports of Pakistan will increase manifold in 2017 and 2018. He added that it is the right time that the Prime Minister has announced the special package for exporters which will be beneficial in achieving the optimum benefits of GSP Plus from the EU, increase in exports and a reduction in the unemployment rate. He further added that the export package coupled with CPEC and reduction of power shortage will put Pakistan on the road of progress and prosperity.
He also hailed the efforts of the Chief Executive TDAP for using his good offices in supporting and helping the business community of Pakistan in getting the long outstanding refunds to exporters, declaring a zero rate status to five export sectors and curtailing load shedding electricity and gas for industries etc. He indicated that now it is the responsibility of businessmen to utilize and get the maximum benefits from the incentives for enhancing their exports.