Articles for tag: APTMA, Cotton, EFS, exports, fabric imports, FBR, sales tax, textiles

EFS Dents from the performance of local industries

Islamabad: Industry experts have expressed concerns about the government’s export facility (EFS), arguing that it undermines the performance of local industries. In previous years, the Pakistan export sector was backed by direct subsidies, such as relief from power and gas, reduced corporate taxes and credit facilities. However, according to the pressure from the International Monetary Fund (IMF), these subsidies have been greatly reduced. Instead, support is now offered through policies such as the EFS, which critics support, are effectively subsidizing exports to the detriment of domestic industry. Despite these concessions, Pakistan’s export profits have remained stagnant for the last three