Just 11% of export funds disbursed


KARACHI 23 july(TNS): Official data has revealed that only 11 per cent of funds allocated for the promotion of exports in the last nine years were actually disbursed among exporters.

An amount of Rs.348.6 billion as part of various export packages was collectively allocated by the PPP and PML-N governments, but their disbursements amounted to a sum of Rs38.59bn, just a meager figure.

Statistics show the PPP was comparatively more generous than the current government when it came to disbursements under export/textile packages, although the distribution of funds was abysmally low under both governments.

In its last term, the PPP government released Rs24.91bn, which is 7.14pc of the total nine-year disbursements. In contrast, the PML-N government has disbursed only Rs13.68bn, or 3.92pc, since the beginning of its term in 2013.

The PML-N launched the Textile Policy 2014-19 with an allocation of Rs80bn. But only Rs2.5bn or 3.12pc was released to exporters in 2015-16. The PPP government undertook the Textile Policy 2009-14 with an allocation of Rs188.6bn. But it released Rs33.09bn, or 17.54pc, against the total allocated funds.

New incentives package announced by the PML-N was launched on Jan 16 allows exporters to receive 4-7pc duty