Key Features of Trade Policy 2015-18

March 30, 2016 | By More
  • The Strategic Trade Policy Framework (2015-18) announced on 22nd 2016 has set an annual export target of $35 billion by the year 2018. TP Frame
  • The framework, the first announced by the current government, will be implemented with a total funding of Rs.18bn in a period of three years.
  • Four major targets include: boosting exp­orts, improving export competitiveness, transition from factor-driven economy to efficiency-driven and increasing share in regional trade.
  • For current fiscal year, the government has already approved an amount of Rs.6 billion which will be disbursed among exporters through the State Bank of Pakistan (SBP) to avoid chances of corruption.
  • To increase the sophistication level of identified sectors including fans, home appliances, rice, cutlery and sports goods, an incentive for technology up-gradation will be provided in the shape of investment support of 20% or mark-up support of 50% up to a maximum of Rs.1 million a year per company for import of new plant and machinery.
  • To boost exports of leather, pharmaceutical, fisheries and surgical instruments, grant of up to Rs.5 million will be provided for specified plant and machinery or specified items to improve product design and encourage innovation in SMEs.
  • A Common Facility Centre for surgical sector will be established.
  • Matching grant will be provided to facilitate the branding and certification for faster growth of the SMEs and exports sectors through Intellectual Property Registration (including trade and service marks), Certification and Accreditation.

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Category: Trade & Economy

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