Pak ministry proposes extension to PM package for 2018-19
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.
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)
Source: Pakistan Tribune, Pakistan Saturday, 21 April 2018