Govt mulls incentives for priority sectors

ISLAMABAD:

A high-level meeting was held under the chairmanship of Federal Minister for Economic Affairs Ahad Cheema to review export promotion schemes and policy options for the upcoming federal budget, with a focus on strengthening Pakistan's exports and supporting priority sectors through effective and targeted incentives.

Participants briefed the minister for economic affairs on export policy proposals under consideration for the upcoming budget. Detailed discussions were held on priority export sectors and the formulation of suitable policy frameworks aimed at enhancing export growth, improving competitiveness, increasing small and medium enterprise (SME) participation in exports and expanding Pakistan's presence in international markets.

Various proposals relating to fiscal support, trade facilitation and sector-specific incentives were reviewed. Officials observed that not only tax reductions, but also improved factors of production, infrastructure, facilitation measures and ease of doing business would play a critical role in boosting exports.

Ahad Cheema emphasised the importance of adopting a sustainable and performance-based export incentive framework that promotes higher export volumes and value addition.