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
Punjab CM Maryam inaugurates initiative of field hospitals
PM Shehbaz constitutes committee to investigate caretaker govt’s wheat import ..
Women T20I: Pakistan to face West Indies in fourth match tomorrow
Pak-UK 6th Regional Stabilization Conference underway at NDU, Islamabad
World Labor Day being observed today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 1 May 2024
Today Gold Rate in Pakistan 01 May 2024
Govt reduces petrol price by Rs5.45 per litre
Pakistan’s Ambassador to UAE meets Ruler of Ras Al Khaimah
Statement of Engro Corporation - LNG Case Decision
Wasim Akram touches fans’ hearts by new look
Empowering women for employment is the need of hour, says Sadaffe Abid
More Stories From Pakistan
-
PM wants wealthy, businessmen, industrialists to prioritize improving conditions of labour class
7 minutes ago -
Rallies, seminars organized to mark “World Labour Day”
17 minutes ago -
Rally held to mark Int.Labour day in Nawabshah
27 minutes ago -
PPP always represents workers, deprived class: Kundi
37 minutes ago -
MPA Amina Sardar demands improvement in laborer conditions
47 minutes ago -
Punjab CM Maryam inaugurates initiative of field hospitals
48 minutes ago
-
Labor day being observe to pay homage to sacrifices of Chicago workers
57 minutes ago -
Breastfeeding room inaugurated in BISP center Khairpur
57 minutes ago -
IIUI marks Labor Day: Panel discussion on right to education vs. Child Labor held
57 minutes ago -
Two drug peddlers held during crackdown
57 minutes ago -
PBM organizes ceremony to mark “Labour Day”
1 hour ago -
Interior Minister visits Coast Guards HQ, lauds PCG performance
1 hour ago