MINTEX revises “PM Exports Enhancement Package” to incentives for textile exporters

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ISLAMABAD, Oct 23 (APP):Ministry of Textile Industry has revised “Prime Minister Exports Enhancement Package” of incentives for textile sector exporters under which 50 percent of the rate of drawback of local taxes and levies shall be provided without condition of increment.
The textile division has notified that duty drawbacks under this order shall be allowed for exports goods declaration (GDs) filed on or after July 1st, 2017 to 30th June, 2018 at the rate of 7 percent for garments,6 percent for made-ups,5 percent for processed fabrics,4 percent for greige fabric and yarn.
The notification issued here on Monday,stated that in pursuance of entry 7 of item 39 of Schedule II of the Rules of Business, 1973, the Prime Minister package of incentives for exporters approved by Economic Coordination Committee (ECC) of the Cabinet.
ECC approved the incentives in order to provide duty drawback of taxes collected from garments, home textiles, processed fabric, greige fabric and yarn manufacturing cum-exporter units.
Duty drawback of taxes order 2016-17, textile division make the order, namely: “Duty Drawback of Taxes Order 2017-18”.
It extends to the whole of Pakistan including export processing zones and shall come into force at once.
The duty drawbacks under this order shall be allowed for exports GDs filed on or after July 1st, 2017 to 30th June, 2018.