Staff Reporter Islamabad
Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood has said that an amount of Rs2.5 billion has been released under Drawback of Local Taxes and Levies (DLTL) schemes.
Taking to Twitter on Friday, Abdul Razak Dawood said that an amount of Rs1,154 million has been released by the Ministry of Commerce for the non-textile sector under Drawback of Local Taxes and Levies schemes.
Similarly, he added, Rs1,346 million have been released by the ministry for the textile sector under DLTL schemes.
The advisor further said that this will resolve the liquidity issues of Pakistani exporters and enable them to enhance exports.
Duty drawback is an export incentive that many countries offer to allow both exporters and importers to recover certain duties, fees, or taxes paid on imported merchandise.
It is kind of a refund of duties collected on imported goods, which are then exported.
