The government may declare Sialkot city as Export Processing Zone (EPZ) which will help organise the informal sector of the economy and increase exports, it was learnt. Sources said that the Engineering Development Board (EDB) has decided to take up the matter with the Ministry of Commerce for finalising a proposal in this regard.
The industry would get benefit in the form of exemption in taxes and duties on import and the government would be able to document the informal sector by declaring Sialkot as EPZ. An official said Pakistan's annual surgical instruments exports amounted to around $240million in 2009-10 which, the surgical instrument manufacturers hope, would increase in the current fiscal year.
While, the EDB has calculated that the exports of surgical instruments can be increased to $500 million in two years and ultimately touch $1billion in five years time but to achieve this target, it is important to move towards branded products and promote their marketing in the international markets.
The bulk of surgical industry of the country is situated in Sialkot but majority of manufacturing units are unorganised and operating as cottage industry. There are some unregistered units and some small and medium enterprises are also operating in the city and the government focus is on organising and facilitating them to increase the quantum of surgical exports.
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