ISLAMABAD, Sep 15 (APP): The Federal Board of Revenue (FBR) has revised the duty drawback structure from 1.72% to 4.396% for electric fans, hence resolving the longstanding demand of fan manufacturers.
A press statement issued by the board here Tuesday said that in line with the vision and directives of the Prime Minister of Pakistan to boost exports and trade, the Federal Board of Revenue (Customs Wing) has issued a notification SRO 859 (I)/2020 in this regard.
The newly issued SRO 859 (I)/2020 has revised the duty drawback structure from 1.72% to 4.396%, the statement said adding that it was important to note that no revision was made in the regime for Fan Manufacturers sector since 2009 which had resulted in the stagnation of the Fan exports.
The statement said Pakistan Customs (FBR) was committed to achieve the vision of Prime Minister “Make in Pakistan” and is taking such landmark steps to boost export and enhance trade facilitation which shall lead to a considerable increase in exports addressing the liquidity issues of the manufactures and ensuring reducing the cost of doing business and ensuring the competitiveness of our manufacturers with the regional exporters.
A number of such measures for various other export sectors are already under process and would be announced very shortly which would result in surge of exports in all important sectors like pharmaceuticals, leather garments, surgical goods, poultry, footwear and many other important sectors.