The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has demanded incentives for all export sectors including pharmaceuticals, poultry, and bike manufacturers to revive exports of the country. Chairman FPCCI Regional Committee on Industries Atif Ikram Sheikh said on Sunday that the government had announced a package worth Rs 180 billion in which incentives were offered for only five major sectors while the rest were ignored, which was seen as preferential treatment by some stakeholders.
However, he claimed that since these incentives had not been fully implemented the external trade sector keeps reeling under problems of cumbersome rules and regulations. The exporters of the five sectors that were given the facility of zero rating do not get timely refunds which compromise their competitiveness.
Atif Ikram Sheikh said that the policy of holding back refunds has a negative impact as some sectors have stopped adding refunds in their calculation and they would only export something when it was profitable without refund. Some of the sectors not claiming refund claims include pharmaceuticals, poultry, and bike manufacturers. A reason behind this trend is the differences between exporters and authorities on the way amount of the refund is calculated, he said. If the sectors that are not claiming refunds are supported they would enhance exports resulting in an improved job situation and foreign exchange earnings, Sheikh emphasized.
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