The Export Promotion Bureau (EPB) Chairman Tariq Ikram announced draft plans to increase Pakistani exports to the United States, European and African countries.
Talking about the scheme Mr Ikram said that the Export Credit Insurance Scheme had been launched in collaboration with London’s Underwriters Association as a pilot project to provide a cushion to Pakistani exporters in case of fraud on the part of importers in the western world.
“Business of US$25 million has been carried out under the cover of this scheme so far,” he said, adding that the scheme might be expanded in the near future.
The chairman EPB hoped that the issue of payment of 30 per cent withholding tax on the remittances under the export credit insurance scheme would be settled with the Central Board of Revenue (CBR).
