Incentive Schemes For Exporters Vital To Keep Industry Competitive: SCCI
Sumaira FH Published August 09, 2020 | 02:00 PM
SIALKOT, Aug 9 (UrduPoint / Pakistan Point News - 9th Aug, 2020 ) :-:Sialkot Chamber of Commerce and Industry (SCCI) president Muhammad Ashraf Malik said on Sunday that incentive schemes for exporters were vital to keep the industry competitive in the international market especially considering the peculiar situation of the economy amidst the COVID-19 pandemic.
In a press statement, the SCCI president stressed that the rate of drawback vide SRO 711(I)/2018 (Non-Textile) and Order No. 1 (42-B)TID/18-TR-II (Textile) should be enhanced to 7 percent to achieve the said targets of export.
Ashraf was of the view that the COVID-19 pandemic has opened new avenues of trade for exporters including the manufacturing and export of Personal Protective Equipment (PPEs).
"The Federal government should also consider giving incentive to the PPE exporters to encourage them in gaining maximum market share," he added.
He further said that it was the right time for Pakistan to gear up for proving its mettle in the Personal Protective Equipment Industry as its market size was expected to grow to US$ 87.67 billion by 2027.
Ashraf Malik also stressed that facilities by the federal government to provide the exporters with special electricity and LNG rates at US Cents 7.5 per kWh and USD 6.5 per MMBTU should be continued for at least 2 years. The incentive in energy inputs would allow the exporters to fight against international market pressures by the competition, he added.
Related Topics
Recent Stories
Saka and Odegaard start for Arsenal, Guerreiro in Bayern midfield
Qatar PM says re-evaluating Israel-Hamas mediation role
Govt spokesperson terms allegations of PTI's Marwat against Saudi Arabia 'heinou ..
Minister appreciate UAE’s support for Pakistan economic challenges
Manchester City v Real Madrid Champions League starting line-ups
MIGA's support Pakistan in attracting foreign investments: Federal Minister for ..
Walker returns to captain Man City for Real Madrid clash
Action taken against price list violations in Khanewal district
DC chairs review meeting of DEG
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
Pakistan ranked 5th most vulnerable country to climate change. Tirmizi
Nadal comeback ends in Barcelona Open second round
More Stories From Pakistan
-
Govt spokesperson terms allegations of PTI's Marwat against Saudi Arabia 'heinous attempt'
9 hours ago -
Action taken against price list violations in Khanewal district
10 hours ago -
DC chairs review meeting of DEG
10 hours ago -
Govt to ensure timely water supply in backward areas of Sindh: Jam Shoro
10 hours ago -
Bilawal condemns attack on PPP candidate in Bajaur
10 hours ago -
PRCS observed World Hemophilia Day
10 hours ago
-
Rain forecast across Kashmir on April 18th-19th
10 hours ago -
Local trader killed after abduction
10 hours ago -
Commissioner Karachi chairs meeting on civic problems
10 hours ago -
Blind murder traced, 5 including constable arrested
10 hours ago -
Sindh govt to introduce non-formal education system to facilitate 2 million out of school children
11 hours ago -
Mayor Karachi imposes rain emergency in view of rain forecast: COO KWSC
11 hours ago