Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has emphasised that duty drawback was neither an incentive nor a subsidy, rather it was an established right of exporters, which should be calculated and assessed to reflect the cost borne on goods export.
Chairing a meeting on the issue of duty drawback at the Ministry of Commerce, Dawood stressed that duty drawback was an essential part of international trade, which was covered under the World Trade Organisation (WTO) rules as well as laws of the country.
The adviser was briefed on the progress on the duty drawback rates’ recalculation exercise. The Ministry of Commerce had earlier selected 11 sectors for recalculation, out of which revised rates of duty drawback have been duly notified for three sectors, which included leather hides, plastic goods and carpets.
Recalculation work for the remaining eight sectors is in final stages and will be finalised shortly.
Published in The Express Tribune, July 22nd, 2020.
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