FPCCI President Appreciates TDAP Chief For PM Exporters Package

FPCCI President appreciates TDAP Chief for PM exporters package

KARACHI, Jan. 11 (Pakistan Point News - APP - 11th Jan, 2017 ) : President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair F.Tufail highly appreciated and acknowledged the services of Chief Executive Officer, Trade Development Authority of Pakistan (TDAP) S.M.Muneer in getting Prime Minister's exporters package. In a statement here on Wednesday, he indicated that this package would provide relief to the exporters and boost the exports of Pakistan which were continuously showing a declining trend for the last three years.

President FPCCI hoped, the package would help to achieve the objective of export-led growth and would revive the industries of Pakistan particularly the textile industries which was highly affected due to international recession, regional competitiveness and high cost of doing business. Under the package, he said, sales tax and customs duty on the import of textile machinery, cotton and man-made fibres were abolished. Moreover, the new duty drawback rates were decided for textile garments (7%); textile made-ups (6%); processed fabric (5%); yarn and grey fabric (4%); while sports goods, leather and footwear will be taxed at 7%, he said.

He expected that the incentives and support to exporters would definitely address the challenges being faced by exporters on a sustainable basis and have met the long aspirations of the industry. Zubair Tufail also appreciated S. M. Muneer for his efforts to make TDAP a corporate and corruption-free entity and it was expected that the exports of Pakistan would increase manifold in 2017 and 2018. It was right time that the Prime Minister announced the special package for exporters which would also be helpful in availing the optimum benefits of GSP-plus from European Union, increase in exports, reduction in unemployment rate etc. The export package coupled with CPEC and reduction of power shortage would put Pakistan on the road of progress and prosperity, he said.