Govt to simplify import rules for capital goods for exporters under EFS

ISLAMABAD (News Desk): The government has decided to simplify regulations governing the import of capital goods and manufacturing machinery for exporters under the Export Facilitation Scheme (EFS).

The decision was taken on Tuesday at a consultative meeting of the Prime Minister’s Committee to Review the Export Facilitation Scheme, chaired by Minister of State for Finance and Railways Bilal Azhar Kayani at the Finance Division.

According to a press release, the minister directed relevant authorities to clarify and simplify rules for import of capital goods and machinery to facilitate exporters and improve ease of doing business.

The meeting reviewed various proposals in detail to streamline the scheme, enhance its efficiency and align it with evolving trade dynamics. It also conducted an in-depth review of amendments aimed at cutting export overheads, encouraging local value addition and stimulating domestic manufacturing.

Bilal Azhar Kayani affirmed the government’s commitment to boosting the export sector and urged Small and Medium-sized Enterprises (SMEs) engaged in exports to take full advantage of the EFS.

He underscored that the prescribed qualification criteria for inclusion in any EFS category would be applied across the board, reiterating that no exemptions would be granted regarding standard operating procedures.

The meeting was attended by the Secretary Commerce, Special Secretaries from Finance and Commerce, senior officials from the Federal Board of Revenue (FBR), and representatives of the All Pakistan Textile Mills Association (APTMA), Pakistan Textile Exporters Association (PTEA) and the Sialkot Chamber of Commerce and Industry.

The minister reiterated the government’s resolve to tailor exporter schemes to exporters’ needs to deliver optimal outcomes, with consensus to sustain active consultations with stakeholders to drive export growth.