ISLAMABAD:
The federal government has decided to give a subsidy of 25 per cent to manufacturers of sports, surgical and cutlery products on brand promotion and acquisition of international certificates for their products, documents show.
This means that the government will share 25 per cent of the cost incurred on product advertisement in approved trade journals and acquiring quality certificates, which will help promote exports of the country.
According to the documents, the government will also offer a 50 per cent subsidy to the exporters of leather apparel for acquiring expert advisory and consultancy services and establishing design studios in their factories. A product development and marketing fund will also be established for the light engineering industry.
According to the documents, the government, in an effort to give a boost to the country’s exports, will start a three-year programme for enhancing Pakistan’s share in regional trade from 17 per cent to 25 per cent, costing an estimated Rs35.22 billion. Efforts to finalise free trade agreements with the United States and the European Union will be part of the programme and funds will be drawn from the Export Investment Support Fund set up last year.
According to the documents, the government will also offer 25 per cent freight subsidy on air shipments of live sea products and provide six per cent funds on export of processed seafood for research and development purposes.
Published in The Express Tribune, June 12th, 2011.
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