ISLAMABAD: The Textiles Ministry has announced more relaxations in Prime Minister Package of incentives for exporters.
According to “Duty Drawback of Taxes Order 2017-18”, 50 percent of the rate of drawback will be provided to exporters without condition of increment.
While, remaining 50 percent of the rate of drawback shall be provided only if the exporter achieves an increase of 10 percent or more in exports during performance year (FY 2017-18), as compared to the base year (Financial year 2016-17).
In the actual package announced on January 23, the duty drawback was offered to exporters, who would achieve an increase of 10 percent or more in exports over last year (2016-17).
According to officials, the exporters submitted that by the time they will file their returns for 2017-18, the government would have been changed. Since the package is Prime Minister Package so the present government should provide relief to exporters in its current tenure as agreed and promised. On exporters pressure, the government issued this new notification allowing half of the promised drawback without any condition, while for remaining half the exporters should exceed their exports from the base year.
