5 °C Prince George's County, US
March 22, 2019

New Incentive Package Approved for Pakistani Exporters

Pakistan’s government has approved a Package of Incentives for Exporters to encourage traders to sell their goods abroad. The incentives are being offered with a view to mitigate exporters’ difficulties and enhance the country’s exports.

The package will have an estimated financial impact of Rs. 180 billion, and is applicable for the period from January 16, 2017, till June 30, 2018. The incentives for FY 2017-18 would only be available to those exporters who would achieve an increase of 10% in their exports as compared to their exports for FY 2016-17.

Pakistan’s exports in December fell by 3 percent, while imports rose 17.6 percent in December, according to the official figures. The balance of trade is current at nearly 30 billion rupees.

Pakistan’s exports are heavily depended on textile which accounts for more than half of the country’s total exports. Pakistan currently enjoys special GSP+ status and its textile imports have posted decent growth in recent years.

But, power outages and gas shortages have weighed heavily on overall efforts to boost exports. Many factories have closed in recent years. Due to load-shedding, factories are unable to work  on their full capacity.

Related articles

OPF Asked to Provide All Facilities to Expats at Airports

The Chairman Overseas Pakistan Foundation (OPF) of governors, Barrister Amjad Malik has directed authorities to provide all help and support at international airports for overseas Pakistanis travelling to their motherland and other destinations. He asked authorities to increase their presence at all airports in Pakistan and display a visible Toll Free Number at prominent places […]

Pakistan’s Automobile sector posts growth in 2016-17 fiscal year

Pakistan’s automobile sector witnessed a modest growth in the fiscal year that ended on June 30, with jeeps and cars production rising by over 5 percent that of motorcycles by 20.7 percent, according to the official statistics. Pakistan’s automobile sector has witnessed growth in the past three years and employs about 120,000 people. The sector […]