Directorate General Input Output Coefficient Organisation (IOCO) has assured textile exporters of revising duty drawback rates on exports to make them realistic with the current incidence of duties and taxes. In a meeting with All Pakistan Textile Mills Association (Aptma) leadership, IOCO North Zone Director Sadia Munib said that existing duty drawback notification was issued about 11 years ago in 2009. “Since then, tariff rates have altogether changed and the notification requires immediate update,” she said Aptma Punjab officials presented the issues pertaining to export of textile products in general and the need for immediate upward revision of duty drawback rates to increase exports. They said that the revision will also relieve exporters from the current economic crunch in the post-Covid scenario.
Published in The Express Tribune, November 6th, 2020.
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