Lahore: The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has appreciated the exercise of the Federal Board of Revenue (FBR) to simplify the export promotion schemes by developing a single unified scheme, suggesting few changes in the draft to make the process easier and simple.
In a letter to the Federal Board of Revenue, the PHMA zonal chairman Faisal Mehboob Sheikh said that the proposed single unified export promotion scheme needs to be simplified, as the rules of earlier export facilitation schemes, including Duty & Tax Remission for Exporters (DTRE), Export Oriented Units (EOU), Manufacturing Bond, Temporary Importation & Duty Drawback for textile exporters, were quite complicated and have cumbersome procedures and take months to import raw materials and intermediate goods.
He stated that exporters are facing great difficulties and their cost of doing business is higher compared to regional countries making them uncompetitive in the global market.
Faisal Mehboob Sheikh said that the exporters having a neat and clean history of ten years must be enrolled in these schemes automatically, sparing them from long and cumbersome procedure of assessment and enrollment.
“The temporary imports should be totally online under WEBOC portal. When the exporters import any material under said systems it should be entered online in the WEBOC of the exporter and when they export, the custom department should deduct their entry accordingly from their record,” PHMA (NZ) Chairman demanded.