{"id":62676,"date":"2020-03-14T22:00:45","date_gmt":"2020-03-14T17:00:45","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=62676"},"modified":"2020-03-13T17:24:36","modified_gmt":"2020-03-13T12:24:36","slug":"pm-imran-approves-5-year-strategic-trade-policy-framework-razak-dawood","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pm-imran-approves-5-year-strategic-trade-policy-framework-razak-dawood.html","title":{"rendered":"PM Imran approves 5-year strategic trade policy framework: Razak Dawood"},"content":{"rendered":"\n<p>Islamabad: Advisor to Prime Minister (PM) on Commerce Razak Dawood said that PM Imran Khan has approved the Strategic Trade Policy Framework (STPF) for five years, a news source reported. As per the publication, the adviser said that the federal government would make major changes in the country\u2019s trade policies.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/kp-govt-prepares-industrial-policy-2020-30-draft.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"KP govt prepares \u2018Industrial Policy 2020-30\u2019 draft (opens in a new tab)\">KP govt prepares \u2018Industrial Policy 2020-30\u2019 draft<\/a><\/p>\n\n\n\n<p>Dawood said that the new trade policy would give incentives to the value-added sectors and will include 26 sectors in total. He said that the current 3 percent average duty drawback will be changed for several traditional sectors, including vegetables, fruits, poultry, auto parts, pharmaceutical, and engineering. The PM\u2019s aid further revealed that the duty drawback would not be applied to the textile sector because \u2018no growth has been observed in the sector\u2019.<\/p>\n\n\n\n<p><strong>Read:<a href=\"https:\/\/www.zameen.com\/news\/pakistan-produce-electric-vehicles-policy-approved.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" Pakistan to produce electric vehicles; policy approved (opens in a new tab)\"> <\/a><\/strong><a href=\"https:\/\/www.zameen.com\/news\/pakistan-produce-electric-vehicles-policy-approved.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" Pakistan to produce electric vehicles; policy approved (opens in a new tab)\">Pakistan to produce electric vehicles; policy approved<\/a><\/p>\n\n\n\n<p>Also, the government has placed fixed export targets at USD 26 billion, USD 31 billion, USD 35 billion, USD 40 billion, and USD 46 billion for 2021, 2022, 2023, 2024, and 2025 respectively.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/womens-relinquishing-of-inheritance-contrary-to-shariah-public-policy-sc.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Women\u2019s relinquishing of inheritance contrary to shariah, public policy: SC (opens in a new tab)\">Women\u2019s relinquishing of inheritance contrary to shariah, public policy: SC<\/a><\/p>\n\n\n\n<p>Presently, the Federal Board of Revenue (FBR) keeps records of sales tax refunds and duty drawbacks, while the Ministry of Commerce observes the Drawback of Local Taxes and Levies (DLTL). However, the new policy framework will authorise the <a href=\"https:\/\/www.zameen.com\/news\/rising-foreign-exchange-reserves-avert-imfs-help-sbp-governor.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"State Bank of Pakistan (SBP)  (opens in a new tab)\">State Bank of Pakistan (SBP) <\/a>to oversee these subjects. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Advisor to Prime Minister (PM) on Commerce Razak Dawood said that PM Imran Khan has approved the Strategic Trade Policy Framework (STPF) for five years, a news source reported. As per the publication, the adviser said that the federal government would make major changes in the country\u2019s trade policies. Read: KP govt prepares \u2018Industrial Policy 2020-30\u2019 draft Dawood said that the new trade policy would give incentives to the value-added sectors and will include 26 sectors in total. He said that the current 3 percent average duty drawback will be changed for several traditional sectors, including vegetables, fruits, poultry, auto parts, pharmaceutical, and engineering. The PM\u2019s aid further revealed that the duty drawback would not be applied to the textile sector because \u2018no growth has been observed in the sector\u2019. Read: Pakistan to produce electric vehicles; policy approved Also, the government has placed fixed export targets at USD 26 billion, USD 31 billion, USD 35 billion, USD 40 billion, and USD 46 billion for 2021, 2022, 2023, 2024, and 2025 respectively. Read: Women\u2019s relinquishing of inheritance contrary to shariah, public policy: SC Presently, the Federal Board of Revenue (FBR) keeps records of sales tax refunds and duty drawbacks, while&hellip;<\/p>\n","protected":false},"author":76,"featured_media":61667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15017,15020],"tags":[22837,22839,21853,22836],"persona":[],"class_list":{"0":"post-62676","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-notices-announcements","9":"category-social-developments","10":"tag-drawback-of-local-taxes-and-levies-dltl","11":"tag-export-targets","12":"tag-state-bank-of-pakistan-sbp","13":"tag-strategic-trade-policy-framework-stpf","14":"cat-15012-id","15":"cat-15017-id","16":"cat-15020-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PM Imran approves 5year strategic trade policy framework - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Advisor to Prime Minister (PM) on Commerce Razak Dawood said that PM Imran Khan has approved the Strategic Trade Policy Framework (STPF)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pm-imran-approves-5-year-strategic-trade-policy-framework-razak-dawood.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM Imran approves 5year strategic trade policy framework - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Advisor to Prime Minister (PM) on Commerce Razak Dawood said that PM Imran Khan has approved the Strategic Trade Policy Framework (STPF)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pm-imran-approves-5-year-strategic-trade-policy-framework-razak-dawood.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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