MoC assures exporters after concerns raised over scheme

Advisor to Prime Minister on Trade and Investment Abdul Razak Dawood has assured exporters that the Federal Board of Revenue's (FBR) proposed unified export scheme will be thoroughly examined before implementation.

“With regard to the concerns expressed by the exporters, MOC would like to assure our exporters that the proposed scheme will be thoroughly examined with all stakeholders before being implemented,” said Dawood in a tweet post on Monday.

The statement comes after leading export associations have declared FBR proposed unified export scheme as an anti-export measure to shift all export promotion schemes from Regulatory Collectorates to the Input Output Coefficient Organization (IOCO) by creating the complications in granting approvals, audit and submission of securities.

Some of the associations which have approached the FBR regarding the proposed scheme are: Pakistan Textile Exporters Association; Sialkot Chamber of Commerce and Industries; Pakistan Hosiery Manufacturing Association; All Pakistan Fruit and Vegetables Exporters Association and others.

Exporters told Business Recorder that the proposed scheme would have serious implications in granting the approval and security instruments. The audit has been proposed to be transferred to the Post Clearance Audit (PCA) without any consultation and recommendations of major stakeholders like exporters. The IOCO and PCA have only three offices across Pakistan, whereas the Islamabad office of the IOCO is still not operational.