KARACHI, May 6: The Export Promotion Bureau (EPB) has removed the name of UAE and its component states as well as of Yemen from the list of freight subsidy scheme.
The scheme announced in the last Trade Policy allowed 25 per cent freight subsidy on all exports to countries to which the average annual exports in the last three year (1999-02 to 2001-02), were not more than $10 million.
The list of eligible countries for freight subsidy, as notified by the EPB earlier this year has been reviewed by the Freight Subsidy Review Committee in its meeting held on Tuesday in the Export Promotion Bureau.
Since the average annual exports to UAE in the last three years were more than $10 million, UAE and its component states are not eligible for the freight subsidy.
Consequently, the states of UAE have been excluded from the list of eligible countries. Exports to these destinations would not be eligible for freight subsidy on a country basis.
Similarly, since average exports to Yemen in the last three year were also more than $10 million, exports to Yemen, including the destination of Hadhrmaut, would not be eligible for freight subsidy, on a country basis.
The review committee further clarified that export products, notified by the EPB continue to be eligible for freight subsidy on a product basis, of which exports in any of the last three years were not more than $5 million.
