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Pakistan government notifies 50% duty drawback on textile exports
The Pakistan government has notified
the ‘Duty Drawback of Taxes Order
2017-18’, effective immediately. The
announcement is in pursuance of the
Prime Minister’s Package of Incentives
for Exporters approved by Economic
Coordination Committee (ECC) of the
Cabinet to provide duty drawback of
taxes collected from manufacturing
cum exporter units.
As per the notification issued by
the Textile Division, ministry of textile
and commerce, the Order extends to
the whole of Pakistan including Export
Processing Zones. The duty drawbacks
under the Order shall be allowed for
exports GDs filed on or after July 1, 2017
to June 30, 2018.
While “50 per cent of the rate of
drawback shall be provided without
condition of increment, the remaining
50 per cent of the rate of drawback shall
US raises annual AGOA quota for
textiles
The US Committee for the
Implementation of Textile Agreements
has released the new annual limit on
duty- and quota-free imports of apparel
articles assembled from regional and
third-country fabric under the African
Growth and Opportunity Act (AGOA) in
the fiscal year beginning October 1. The
figure is a 2.9 per cent rise over the limit
in the current fiscal.
For apparel articles fully assembled
in any beneficiary African country
from fabric wholly manufactured in
any beneficiary country from yarn
originating in the US or any beneficiary
country, the new annual limit is
24 | FIBRE 2 FASHION NOVEMBER 2017
be provided, if the exporter achieves
an increase of 10 per cent or more in
exports during performance year (FY
2017-18), as compared to the base year
(FY 2016-17),” the notification said.
“The actual rate of drawback against
the remainder 50 per cent shall be
determined on the basis of annual
performance of the exporter, but in
order to improve her/his cash flow, the
disbursement shall be allowed on the
performance during July-December
2017, subject to submission of a
bank guarantee that the exporter will
return the excess amount, in case his/
her annual exports are less than the
amount of drawback paid to him/her,”
it added.
Further, an additional 2 per ce