Finance ministry yet to release Rs7b export surcharge
Seven billion rupees that was to be used to support exporters is held up by the Ministry of Finance.
KARACHI:
The Trade Development Authority of Pakistan (TDAP) is awaiting the release of export development surcharge to the tune of Rs7 billion held up by the Ministry of Finance, stated TDAP Chief Executive Tariq Iqbal Puri.
With the help of these funds, the TDAP would be able to implement its export-oriented plans as well as release subsidies to the exporters, he said while speaking at a meeting at the Korangi Association of Trade and Industry (Kati) on Tuesday.
Puri said that Pakistan would cross the barrier of $20 billion in exports this year, adding TDAP has many export-oriented projects in the pipeline.
He said that TDAP is planning to take part in 80 international exhibitions, out of which 25 fairs would be held in China. Beijing has offered free stalls in some of the exhibitions.
Puri said China would be the focus country for TDAP this year as its market is much lucrative than other countries and home textile and other items have a big potential for exports.
He announced that TDAP board of directors would soon be reconstituted with the induction of prominent people.
He said that a plan is under consideration for splitting the Expo Pakistan exhibition into 5-7 sector-based expos this year and in that regard proposals are being invited from trade bodies. He said that TDAP is planning to provide assistance and funds for non-traditional item manufacturers with the help of USAID.
Earlier, Kati Chairman Syed Johar Ali Qandhari said wrong policies of the government have caused problems for the industrial sector and many manufacturing units have closed. Besides, the volume of non-performing loans has gone up to Rs500 billion.
Certificate of origin fee
Puri said TDAP will review an increase in the Certificate of Origin fee keeping in view the demand of exporters. No increase had been made in the fee for the last 40 years but from January 1 TDAP increased the fee from Rs25 to Rs1,000 for the certificate.
Published in The Express Tribune, January 5th, 2011.
The Trade Development Authority of Pakistan (TDAP) is awaiting the release of export development surcharge to the tune of Rs7 billion held up by the Ministry of Finance, stated TDAP Chief Executive Tariq Iqbal Puri.
With the help of these funds, the TDAP would be able to implement its export-oriented plans as well as release subsidies to the exporters, he said while speaking at a meeting at the Korangi Association of Trade and Industry (Kati) on Tuesday.
Puri said that Pakistan would cross the barrier of $20 billion in exports this year, adding TDAP has many export-oriented projects in the pipeline.
He said that TDAP is planning to take part in 80 international exhibitions, out of which 25 fairs would be held in China. Beijing has offered free stalls in some of the exhibitions.
Puri said China would be the focus country for TDAP this year as its market is much lucrative than other countries and home textile and other items have a big potential for exports.
He announced that TDAP board of directors would soon be reconstituted with the induction of prominent people.
He said that a plan is under consideration for splitting the Expo Pakistan exhibition into 5-7 sector-based expos this year and in that regard proposals are being invited from trade bodies. He said that TDAP is planning to provide assistance and funds for non-traditional item manufacturers with the help of USAID.
Earlier, Kati Chairman Syed Johar Ali Qandhari said wrong policies of the government have caused problems for the industrial sector and many manufacturing units have closed. Besides, the volume of non-performing loans has gone up to Rs500 billion.
Certificate of origin fee
Puri said TDAP will review an increase in the Certificate of Origin fee keeping in view the demand of exporters. No increase had been made in the fee for the last 40 years but from January 1 TDAP increased the fee from Rs25 to Rs1,000 for the certificate.
Published in The Express Tribune, January 5th, 2011.