Inputs: exporters promised hassle-free imports
- The government decides to help exporters import raw materials in order to meet their manufacturing requirements
ISLAMABAD: Finance Minister Ishaq Dar said Monday that exporters of textile products, leather goods, surgical instruments, carpets, and sports goods would be given complete facilitation on the import of raw material/ inputs to meet their export requirements.
The announcement has been made to extend full support to the export industry; the government has decided to help exporters import raw materials in order to meet their manufacturing requirements.
Finance Minister Ishaq Dar said on Twitter that exporters will be given complete facilitation to meet their export requirements. He tweeted, “Export Industry is one of highest priority of our Govt. Five (previously) Zero Rated Export Oriented Sectors & all other exporters will be given complete facilitation for (the) import of raw material, parts and accessories to meet their export requirements”.
The top priority of the government is to fully implement the Export Facilitation Scheme (EFS) of the Federal Board of Revenue (FBR) bringing all big exporters within the ambit of the scheme to allow duties and taxes-free inputs for goods to be exported.
Pakistan’s economy grinding to a halt as dollars dry up
In this connection, the Ministry of Commerce and the FBR are taking measures to considerably increase exports through speedy payment of refunds, export facilitation, technological changes and registration of 90 percent of the exporters under the EFS. The FBR and the Ministry of Commerce would jointly approach the small and medium enterprises (SMEs) factories to register themselves with the completely automated EFS.
Under the export facilitation policy, the senior customs officials have done extensive interaction with the FPCCI and leading sectors including textile and others.
The FBR has taken the feedback of the APTMA on the EFS. They have raised many issues relating to the automated system. With the consultative process with Director General Reform and Automation and Director Reforms Karachi, Collectors of Sialkot and Faisalabad, most of the issues have been resolved like EFS module for the indirect exports.
Similarly, the quota allowed to the exporters was not calculated in accordance with their requirements. After changes, exporters are happier with the newer system. The APTMA has shown satisfaction over the demonstration given by the customs on the EFS issues. By February 2022, the EFS system would be able to meet 100 percent requirements of the exporters.
Prior to the launching of the EFS, only one-third of the exporters were taking benefit of the temporary importation schemes like manufacturing bonds, EOU and DTRE, SRO492 and two third of the exporters were outside these schemes. The aim of the government is that 90 percent of the exporters should operate under the EFS. The scheme is simple and efficient enough for the exporters to be happy over the EFS.
Once the FBR has completed the EFS-related features, the FBR is going to launch the scheme in a big way in cities where a majority of exports are taking place. The Ministry of Commerce and the FBR will jointly launch EFS to register exporters in major cities of the country.
Copyright Business Recorder, 2023
Comments are closed.