PAKISTAN: Government unveils export investment strategy
Authorities in Pakistan have unveiled a three-year Strategic Trade Policy Framework to provide subsidies and support to export sectors including textiles and clothing, footwear and leather.
The programme, which runs from 2012 to 2015, has an annual investment target of US$5.5bn - and aims to offers PKR26bn (US$268m) in subsidies.
The focus is on promoting regional trade, improving efficiencies, revamping export promotion agencies, increasing green exports, enhancing the role of women in exports, and pursuing product and market diversification.
The government plans to set up institutions like an Export-Import (Exim) Bank, Pakistan Land Port Authority, Leather Export Promotion Council and Services Trade Development Council.
Major initiatives include a 2% mark-up rate subsidy on long-term loans for machinery imports, a 1.5% mark-up subsidy on the export finance scheme (EFS), and 3% ad hoc relief to offset the impact of energy shortages.
In addition, exporters will be allowed to spend 2% of their export income on the duty-free import of accessories to add value to leather garments.
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