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MoC finalising TRIPF to enhance exports

MoC finalising TRIPF to enhance exports

ISLAMABAD: Ministry of Commerce is formulating Trade Related Investment Policy Framework (TRIPF) 2018-23 that will be integrated in the Strategic Trade Policy Framework 2018-23 to channelise investment into export-oriented production and competitive import substitution.

Sources at Ministry of Commerce told Customs Today that the five-year policy aims to provide a comprehensive package of incentives to attract investment in the export-oriented production and competitive import substitution.

According to sources, the TRIPF is focusing on priority sectors such as footwear & bags, apparel & textile, aluminum sheets & foils, high technology steel making, juice & syrups, confectionery, edible oil, fish & fish products, oil refinery & petrochemicals, data processing and ITC equipment, telecom, LED lights, solar panels, consumer electronics, integrated circuits manufacturing, automotive electronic, electrical equipment, and chromium bromide batteries.

Sources said that besides, Board of Investment is formulating an investment strategy in consultation with all the stakeholders. Based on detailed sector scanning exercise a framework integrating TRIPF would be designed to attract investment in import substitution or export based. Sources hoped that these measures would be instrumental to attract substantial investment in export industry of the country.