Incentive Schemes For Exporters Vital To Keep Industry Competitive: SCCI

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.