Government to Present Measures in Next Budget to Grow Exports
The government is drafting major export tax relief measures in the Budget (2021-22) as part of a consolidation strategy to ensure a significant increase in Pakistan’s exports.
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Exercises have begun to confront the new system. The system was developed and submitted to major exporters associations for comment.
This system integrates all existing export systems operated by the Federal Board of Revenue (FBR). Various schemes are currently used by exporters and will be consolidated into a single scheme. All these measures are aimed at neutralizing the negative effects of the Covid-19 pandemic, especially for exporters, and making their products competitive with their competitors on the international market.
The FBR has also lifted regulatory tariffs on the import of cotton yarn, the basic raw material for Pakistan’s value-added textile industry, until 30 June 2021.
FBR is committed to the national goal of increasing exports and makes every effort to support exporters by continuously improving its laws and procedures.
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