On behalf of Sialkot Chamber of Commerce & Industry, I am pleased to share that Mr. Muhammad Pervaiz Malik, Federal Minister for Commerce & Textile has assured that DLTL Rate through PM Incentive Program for Surgical Instruments and Cutlery Sector would be increased to 7%.
When I took charge as the President of this Chamber, one of the most key issues of the Industry was the disparity between the value-added sectors in terms of Duty Drawback through PM Incentive Program. Surgical Instruments and Cutlery Sector were given mere 5% whereas other sectors were offered 7% Drawback rate which demotivated the exporters belonging to above mentioned most vital sectors of our economy.
I took up the matter with the Federal Minister of Commerce on January 03, 2018 and in follow-up, a high powered delegation of Sialkot Chamber met Mr. Muhammad Pervaiz Malik on January 10, 2018, where the point was raised.
I am pleased to mention that we were successful in convincing the Commerce Minister for getting the drawback rate to Surgical Instruments and Cutlery Instruments enhanced to 7. The Commerce Minister also extended his courtesy by assuring inclusion of Musical Instruments, Sports Bags and Wallets in the Incentive program as well. (Notification would be shared upon Issuance by the Ministry of Commerce).
Zahid Latif Malik
The Sialkot Chamber of Commerce & Industry