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PBC asks for zero-rated duty on exports to China
KARACHI: The Pakistan Business Council (PBC) on Tuesday has asked the government to provide zero-rated duty on exports to China. In a statement issued, the PBC suggested the government to hold talks with China to extend its favourable tariff terms to Pakistani products like Bangladesh and ASEAN countries do. The PBC said that zero-rated duty […]
KARACHI: The Pakistan Business Council (PBC) on Tuesday has asked the government to provide zero-rated duty on exports to China.
In a statement issued, the PBC suggested the government to hold talks with China to extend its favourable tariff terms to Pakistani products like Bangladesh and ASEAN countries do.
The PBC said that zero-rated duty on exports would allow Pakistan’s exports to grow by $3.8 billion as Bangladesh and Association of Southeast Asian Nations (ASEAN) were being benefited from it.
The council said that t1he exports would increase significantly even if only 25% products get zero rating
The PBC quoted the example of Bangladesh, which gets 97% duty-free access. Increase in exports to China would help cut trade deficits and help generate employment, the PBC concluded.
