Govt strengthened textile, export sectors: minister | Pakistan Today

Govt strengthened textile, export sectors: minister

  • Dastgir says govt is supporting establishment of food processing units in less developed areas of country
  • 2nd phase of China-Pakistan free trade agreement being negotiated, says the minister

The National Assembly was informed on Wednesday that the government has taken various steps to strengthen textile and other sectors in the country.

Minister for Commerce Khurram Dastgir Khan told the house during question hour that sales tax of five export oriented sectors namely textile, leather, sports goods, surgical goods and carpets has been made part of zero rated tax regime from July this year.

He said technology up-gradation fund scheme for the textile sector is also available and the facility of duty free import of textile machinery is continuing.

The minister said mark-up rates on export refinance facility, has been brought down to three percent and the long-term finance facility is continuing at five percent.

To a question, Khurram Dastgir said trade policy cannot be country specific and is based on the principle of non-discrimination for all WTO members. He said 2nd phase of China-Pakistan Free Trade Agreement is being negotiated and efforts are being made to dove-tail trade and investment activities envisaged under China-Pakistan Economic Corridor (CPEC).

To another question, the minister said the government is supporting establishment of food processing units in less developed areas of the country.

Answering a question, he said Pakistan’s exports have been increased by 6.01 percent in November, 2016 as compared to the same period last year as a result of prudent policies of the government. He said concrete steps are being taken to enhance Pakistan’s export basket. He said 20 billion rupees will be spent on development of export sector.

The minister said EXIM Bank is being established to facilitate export credit. He said there is consistent effort for negotiating additional market access for Pakistani products in world markets.

To a question, he said GSP+ has helped Pakistani products to access the European Union markets at zero tariff and the total exports current fiscal year are over $ 5,226 million.

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