Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood said on Wednesday that an amount of Rs213 million has been approved for Drawback of Local Taxes and Levies (DLTL) payments of non-textile sector.
Taking to Twitter, the advisor said that Rs213 million were now with State Bank of Pakistan (SBP) and would soon be disbursed to the relevant exporters.
“Our policy is not to put any working capital constraints on our exporters. I hope that this will facilitate them,” he stated.
The adviser also appreciated e-commerce promoter ‘Bazaar Technologies’ on successfully raising $6.5 million in seed round. “This is impressive considering the fact that the startup was founded just eight months ago by two youngsters in Karachi for digitizing the traditional retail sector in Pakistan,” he said.
Dawood continued, “I have always believed in the entrepreneurship of our youth and this speaks volumes about their abilities. I wish them success and urge our young entrepreneurs to emulate this as with a large population base, Pakistan is one of the largest potential e-commerce markets in the world.”