Federal government would provide Rs 26.50 billion to support and cash subsidies to various export-led sectors in the next three years to achieve the target of exports of $95 billion said Director General Trade Policy, Ministry of Trade Safdar A Suhail. He said that government has fixed the export target of $95 billion in Trade Policy 2012-15 and it would be achieved by increasing the exports 10, 16 and 18 percent in 2013, 14 and 15 respectively.
Delivering his speech at the meeting of executive committee of Multan Chamber of Commerce and Industry (MCCI) chaired by its President Muhammad Khan Saddozai here on Friday. He disclosed that government was providing financial support for regional marketing as it was focusing the regional trade. He said that government would provide $10,000 per company for marketing, research, publicity, travelling office and warehouses in India, China, Afghanistan and Iran.
He further said that government would provide at least 50 percent financial support for the import of machinery and plants for preservation of meat, fruit and vegetables in Gilgit-Baltistan province, Dera Ghazi Khan division and Balochistan. He further said that government has decided to ban the import of such items which were badly hitting the local industry like motor-wheel chairs, ambulances, PVC pipe, syringes, drums etc. He asked the member of MCCI to submit their suggestions for the promotion of regional marketing.
On a question the Director General assured to induct a representative of Multan in Federal Trade Committee. To safeguard the security, import of auto pilot kits will be restricted. Trade Policy will also include procedure for stolen goods checking. The federal government has decided to ban the import of CFC air conditioning equipments as the government already agreed with the United Nations to phase out the CFC gases, which are health hazards, and replace CFC gases with green gases. Phasing out of CFC gases would be facilitated by placing ban on their equipments' import into the country.
Safdar said that Rs 26.50 billion would be provided to support and cash subsidies to various export-led sectors in the next three years. The most important part of the policy is the establishment of an Export-Import Bank (EXIM Bank). He further said that government was providing subsidy of Rs one billion on sugar export to facilitate the sugar industry.
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