ISLAMABAD, Pakistan: The Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood has said that the Federal Board of Revenue (FBR) has issued the notification for new rates of duty drawback for electric fans.
In a series of tweets on Monday, the adviser said that the duty drawback rates have been revised to 4.39 percent from 1.7 percent after 11 years.
Abdul Razak Dawood said that I have always maintained that the duty drawback is a right of the exporter and I hope that these measures will result in enhancing domestic production and consequent exports.
The adviser further said that this is in pursuance of our policy of diversifying our exports into the developmental sector where engineering goods is one of our top priorities.
It is also our government’s commitment to promote ‘Make in Pakistan’ and export-led growth, he added.
To support fan industry, FBR has notified revised DutyDrawback ( DDB) rates for fan industry vide SRO 859 dated 10.9.2020. New rates have been revised after 11 years from 1.72% to 4.396%. Exporters of fans are now entitled to DDB of 4.396% of FOB value of exports.
— FBR (@FBRSpokesperson) September 14, 2020
