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Pakistan plans tax incentives to brands opening office in the country

  

Pakistan plans to give tax incentives to any global brand that opens an office in the country. The country is exporting sanitizers and PPEs to the US and plans to graduate to medical and electromagnetic products soon. Abdul Razak Dawood, Trade Advisor, Prime Minister of Pakistan said exports of masks and other protective gear by the country have increased and the textile sector is witnessing an increase in orders.

The country’s textile exports had dropped by 7 per cent in the year ended in June. However, supply chain disruptions caused by the pandemic enabled it to secure its first sportswear order from Hugo Boss AG, said Ijaz Akhtar Khokhar, Chief Coordinator, Pakistan Readymade Garment Manufacturers and Exporters Association.

Additionally, rupees’ depreciation — by more than 50 per cent since late 2017 — has made the country’s shipments competitive globally. The country has received an order for the export of microwave ovens for the first time and hopes to soon progress to exporting other engineering products.

 
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