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Friday, March 29, 2024

FPCCI seeks catalyst for export sector

The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) recently organized a session to bring into light the announced export package of Rs. 180 billion.

Zubair F Tufail, the president of the FPCCI, spoke about the outcomes of his meeting with the finance minister and the prime minister of Pakistan. He said that he had requested the prime minister, Mian Nawaz Shareef for an enticement package for the crops and all other export based sub-sectors. This request is made in order to use the maximum potential of these products. He also praised S. M. Muneer for his efforts in bringing the export package of R.s 180 billion for exporters. According to his believe this package will be basically for the 5 zero-rated export sectors. Further, in his discussion, he introduced the budget proposals from the association to be made as a part of the federal budget in 2017/18.

Exporters from different market sectors demanded the implementation of textile policy (2014/19), wherein several incentives were announced including; increase in share of value-addition in products, reduction in export refinance rate (EFS) and long-term financing facility (LTFF), subsidy on long-term loans and development and special duty drawbacks, etc. “The exporters will be liable to increase exports by five percent in the first six months and then by 10 percent in the next year.” Said by Irfan Sarwana; vice president of the FPCCI. The session was also attended by Ishtiaq Baig and Saquib Fayyaz Magoon, vice presidents of the FPCCI and other prominent businessmen.

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