World FZO ties up with India, Uruguay free trade zones
DUBAI, 4 hours, 49 minutes ago The World Free Zones Organization (World FZO) has signed two new agreements with leading free zone organizations from India and Uruguay as part of its continuing efforts to establish cooperation and support economic zones around the world through its full range of free trade zone services. The World FZO has commissioned the All-in-One Program to expand its services to a larger cross-section of the free zone community, allowing each of India’s Export Promotion Council for Export Oriented Units & Special Economic Zones (EPCES) and the Uruguayan Chamber of Free Trade Zones (CZFUY) associated entities to become a voting member of the World FZO and have access to the complete range of World FZO services under the agreements.
AGP Recommends FBR to Ensure Customs Duty Drawback Should Not be More Than Actual Duty Paid
The Auditor General of Pakistan (AGP) has strongly recommended the Federal Board of Revenue (FBR) to ensure that customs duty drawback should not be more than the actual duty paid by the exporter.
The latest audit report of the AGP on customs duty drawback for 2011 issued to the FBR revealed that timely issuance of duty drawback has been ensured through Rule 222 of the Customs Rules, 2001 which provides a timeframe for processing and payment of duty drawback. Three field formations of customs processed duty drawback claims with delays ranging from 30 days to 2,614 days. It was also observed that 296,388 cases involving an amount of Rs. 25,825.96 million remained unprocessed without recording any reasons.
Denial of energy input to export industry at competitive tariff
National
March 12, 2021
ISLAMABAD: The denial by the government to supply gas and electricity at regionally competitive tariff to the export industry has not only jeopardized the expansion in industrial base and investment that have so far taken place in the textile sector but also the $2 billion investment that is in the pipeline.
And under the latest scenario, the expansion in industrial base has virtually come to rest, as all the new equipment and feasibility was based on sustained gas/RLNG supply at regionally competitive rates to provide stable and reliable power.
Expansion in industrial base stalled, Aptma tells PM
National
March 12, 2021
ISLAMABAD: The denial by the government to supply gas and electricity at regionally competitive tariff to the export industry has not only jeopardized the expansion in industrial base and investment that have so far taken place in the textile sector but also the $2 billion investment that is in the pipeline.
And under the latest scenario, the expansion in industrial base has virtually come to rest, as all the new equipment and feasibility was based on sustained gas/RLNG supply at regionally competitive rates to provide stable and reliable power.
This all has directly been conveyed to the prime minister of Pakistan by the APTMA chairman in his letter written on March 11, 2021.