KARACHI: Federal Board of Revenue (FBR) Member Customs Muhammad Zahid Khokhar has said that exporters are reciprocating to the nation while exporting products and earning foreign exchange which is the great service to the country.
He expressed these views during his visit to Pakistan Hosiery Manufacturers & Exporters Association (PHMA) where he met with the association’s office-bearers besides leading exporters.
During the meeting, Muhammad Zahid Khokhar said that the government accords high priority to the value added textile export sector having major share in both textile and national exports. To encourage value addition and exports, regulatory duty on import of yarn and raw material has been reduced, he said, adding that perception to decrease regulatory duty on 570 items to control import is incorrect.
He said that regulatory duty on only 90 items has been revised, while on 100 luxury items has been increased and a revised notification was issued.
Efforts were underway to further automate and upgrade the system. To facilitate the exporters, rebate shall be paid with the export proceeds electronically, he said.
Zahid Khokhar said that the country direly needed the foreign exchange to which enhancement of exports holds utmost importance. The government, to enhance exports, endeavours to take revolutionary steps and measures, Khokhar stated.
Member Customs further said that the exporters are foreign exchange earners and their problems must be addressed on priority and all imperative decisions should be taken to facilitate them while reducing their cost of manufacturing.
He sought proposals from export-oriented industries to simplify the Duty & Tax Remission for Exports (DTRE), whereas for renewal of licenses of export-oriented units and manufacturing bonds, the process of validating license shall also be automated whereby the audit will also be done automatically by system. Previously, the backlog of customs rebate was span over fifteen months which has been curtailed to ten months and even this ten months backlog will be reduced sooner, he added.
Member Customs Muhammad Zahid Khokhar visited PHMA House on invitation of Central Chairman, PHMA Jawed Bilwani. Chief Collector Customs (Enforcement South) Manzoor Hussain Memon, Collector Customs (Exports – Port Qasim) Dr. Saifuddin Junejo and Collector of Customs (Exports – Karachi) Muhammad Saqif Saeed were also present at the occasion.