Notifications issued to affect PM’s export incentive package
Prime Minister announced recently a export package aimed at arresting the trend of falling exports in the remaining months of the current fiscal year.
The package is worked out in a way to minimise the impact of the 8 per cent rebate that the Indian government gives to its exporters to compensate for falling prices of commodities in the international market.
In the first half of 2016-17, export proceeds fell to $9.91bn from $10.31bn a year ago, Pakistan Bureau of Statistics (PBS) data shows. Pakistan’s exports fell to $19.5bn in 2015-16 from $25bn in 2013-14.
The proposed Prime Minister’s Trade Enhancement Initiative covers raw materials used in five value-added sectors, namely textiles, leather, sports, carpets and surgical goods.