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LAHORE: Budgetary allocation for different sectors in Pakistan have remained stereotypical particularly for export sectors as instead of supporting long-term growth the emphasis remains on subsidies...

LAHORE: The Pakistan Hosiery Manufacturers and Exporters Association has lauded the Federal Board of Revenue for simplifying the export promotion schemes by developing a single unified scheme, and...

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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 & Spec...

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...