ISLAMABAD/KARACHI: Commerce Adviser Abdul Razak Dawood on Monday said the government had revised up duty drawback rates on export of fans after a gap of 11 years.

A notification of the Federal Board of Revenue issued on Monday said the duty drawback rates have been increased to 4.39 per cent from 1.7pc.

Razak said that duty drawback is the right of exporters and should be promptly released to them. “I hope that these measures will result in enhancing domestic production and consequent exports,” the adviser added.

Sale of NPC certificates live

The sale of conventional Naya Pakistan Certificates (NPCs) started on Monday through various agent banks, the finance ministry said.

In a tweet, the ministry posted that the sale has been started through Roshan Digital Account (RDA) of agent banks including UBL HBL MCB, Alfalah, Standard Chartered and Samba Bank.

The RDA holders can subscribe to the certificates by visiting NPC page of their respective bank. The Shariah-compliant version is also coming very soon, it added.—APP

Strategic partnership

Habib Metropolitan Bank Ltd and Adamjee Life Assurance Company Ltd on Monday entered into a strategic alliance for the promotion of Bancassurance products, said a press release.

Published in Dawn, September 15th, 2020