Govt pays Rs44bn to enhance textile exports
The SBP has received 276,000 refund claims under the package and they were processed accordingly.
(Web Desk) – The government has paid Rs44 billion to the local textile industry under ‘Prime Minister Exports Enhancement Package’ to enhance country’s exports.
According to sources, the package was aimed at bridging the gap between local exports and imports by encouraging the export-oriented industry and incentivizing the industrial sector for introducing the innovative, modern and cost-cutting technologies, particularly in the textile industry.
So far, the State Bank of Pakistan (SBP) has received 276,000 refund claims under the package and they were processed accordingly.
The package was introduced in 2016-17 and in first five months, the government had paid an amount of Rs5 billion, and in the fiscal year 2017-18 the government had cleared the refunds amounting to Rs26 billion.
In the last seven months, the government had paid Rs11 billion in outstanding claims, and the pending liabilities of Rs23 billion would be paid off by the government in next few months.
