The government has extended the export enhancement package for another three years with the same conditions to encourage export of non-traditional goods as well from the country, said Parliamentary Secretary for Textile Aliya Hamza Malik.
Briefing the National Assembly on Thursday, she said new export sectors such as transport equipment, auto parts and accessories, machinery, furniture and stationary had been included in the package.
She pointed out that liquefied natural gas (LNG) tariff had been reduced for Punjab to bring it on a par with other provinces. “There has been no increase in gas prices for export-oriented industries including jute, carpet, textile, sports goods, leather and surgical goods,” she said.
She informed the house that customs and regularity duties on 236 tariff lines comprising raw material and intermediate goods had been reduced under the package to support economic growth.
She added that duty on cotton yarn had been waived compared to 10% earlier while export rates had been increased by 3% for the exporters.
In reply to another question, the parliamentary secretary told the house that low electricity cost would reduce the cost of doing business for industries, adding that the increase in tariffs was not going to affect major exporters.
Regarding trade with India, she said amid recent tensions with the neighbour over the Kashmir issue, the National Security Committee (NSC) meeting had decided to halt all bilateral trade with India while details of ongoing trade would be shared later.
