Pakistan : DLTL scheme for rice exporters extended by 3 months
Pakistan has extended the DLTL scheme for rice exporters by 90 days, boosting support for the sector. The government also increased the non-basmati rice incentive from 3% to 5%, while maintaining 9% for basmati, enhancing export competitiveness and providing relief to exporters amid challenging global market conditions.
KARACHI: The federal government has extended the Drawback of Local Taxes and Levies (DLTL) scheme for rice exporters by another 90 days, while raising the incentive for non-basmati rice from 3 percent to 5 percent, providing a significant boost to the country’s rice export sector.
The decision was taken at a meeting of the Export Development Fund (EDF) Committee, where Rice Exporters Association of Pakistan (REAP) Chairman Faisal Malik Jhangir strongly presented the rice industry’s case for extending the DLTL scheme.
Former REAP Chairman and President of the Pakistan-Kenya Business Council, Rafique Suleman, said the REAP chairman urged the government to extend the DLTL scheme for another 90 days.
He also requested an increase in the DLTL incentive for non-Basmati rice from 3 percent to 9 percent, bringing it in line with the existing 9 percent incentive for Basmati rice to improve the competitiveness of Pakistani rice in the global markets.
Responding to the industry’s concerns, the government decided to retain the 9 percent DLTL incentive for Basmati rice and increase the incentive for non-Basmati rice from 3 percent to 5 percent. The move is expected to support rice exporters and strengthen Pakistan’s position in international export markets.
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Source : Business Recorder
