ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Friday chaired a meeting at the Finance Division to review the proposals for the facilitation of export sectors with a special focus on small & medium enterprises.
Adviser to Prime Minister on Commerce Abdul Razzaq Dawood on the occasion gave a detailed briefing to the participants on improving the system of duty drawbacks and export rebates that could help with the cash flow situation of the exporters and reduce burden through automation and reduced tiers for verification.
Other proposals included updating the lists of rate of rebates offered on different exported items and provision of funds to the State Bank of Pakistan (SBP) for clearing rebates in a faster manner.
The meeting was briefed that 26 sectors, which can provide exportable materials, had put forward their suggestions for the facilitation and promotion of exports from the country and some of the proposed measures didn’t even require any monetary contribution from the government.
Shaikh appreciated the work done by the commerce ministry and the input given by the Federal Board of Revenue (FBR) and Customs on the proposals.
He said the government aims to provide ease with maximum degree of automation and transparency to the exporters.
The adviser directed the MoC to hold further discussions with all stakeholders and prepare draft proposals for making an effective policy for increasing the volume of exports from the country.
He said all possible cooperation in the matter would be provided by the MoF and the needful would be done in the next budget.