AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: The first meeting of the committee formed by the Prime Minister was held in Islamabad to review the Export Facilitation Scheme with Planning Minister Ahsan Iqbal in chair.
According to Radio Pakistan, the Federal Board of Revenue (FBR) informed the meeting that the Export Facilitation Scheme has seen an increase in licenses from 800 to approximately 2,000. A special drive initiated in May last year to curb misuse of licenses has led to significant improvements, especially in the textile industry, which has witnessed notable value addition.
The committee directed the FBR to halt the implementation of the revised Export Facilitation Scheme for the iron and steel sector until the committee finalizes its recommendations. Planning Minister Ahsan Iqbal emphasized the importance of achieving the ambitious target of sixty billion dollars in exports, stating that Pakistan’s economic future depends on rapid and sustainable export growth.