KARACHI: Only 11 per cent of funds allocated for the promotion of exports in the last nine years were actually disbursed among exporters, official data shows.

The PPP and PML-N governments collectively allocated Rs348.6 billion as part of various export packages. But their disbursements amounted to a meagre Rs38.59bn, data shows.

Although the distribution of funds was abysmally low under both governments, statistics show the PPP was more generous than the current government when it came to disbursements under export/textile packages.

The PPP government released Rs24.91bn in its last term, which is 7.14pc of the total nine-year disbursements. In contrast, the PML-N government has disbursed only Rs13.68bn, or 3.92pc, since the beginning of its term in 2013.

The PPP government undertook the Textile Policy 2009-14 with an allocation of Rs188.6bn. But it released Rs33.09bn, or 17.54pc, against the total allocated funds.

The PML-N launched the Textile Policy 2014-19 with an allocation of Rs80bn. But only Rs2.5bn or 3.12pc was released to exporters in 2015-16.

The recent incentives package announced by the PML-N was launched on Jan 16. It allows exporters to receive 4-7pc duty drawback against export proceeds. The incentives package has so far received only Rs3bn.

A spokesman for the Ministry of Textile Industry told Dawn that the Finance Division has released the second tranche of Rs4bn to the State Bank of Pakistan for its onward distribution against claims amounting to Rs8.9bn. He added that the third tranche will also be released soon.

Published in Dawn, July 23rd, 2017