Pakistan’s seafood industry calls for zero-rating and lower electricity tariff. Here’s why

The main goal of this meeting was to come up with ideas and suggestions which would help in uplifting Pakistan’s seafood sector

The Union of Small and Medium Enterprises (UNISAME), the Pakistan Fish Exporters Association (PFEA) and prominent seafood exporters held an online meeting with the Small and Medium Enterprises Development Authority (SMEDA).

The main goal of this meeting was to come up with ideas and suggestions to help in uplifting Pakistan’s seafood sector.

The UNISAME President Zulfikar Thaver, who was present in the meeting, said it is imperative that the fishing industry modernizes and adopts new technologies.

“It needs finance and facilities to function at par with the international standards,” he said.

“In fact, it needs to partner with China under the China-Pakistan Economic Corridor (CPEC) for revival since this sector possesses a vast scope and sky is the limit. He stressed the important role this sector can play in increasing Pakistan’s exports, thereby bringing in valuable foreign exchange dollars while also creating jobs for thousands of workers.

Why asking for a zero-rated status?

On the other hand, PFEA Chairman Zafar Kundi, along with seafood exporters Akhlaq Hussain and Yasir Abbas, urged the government to grant zero-rated status to the seafood export industry while also highlighting the need for lower electricity tariffs.

Demands to helps exporters in overcoming problems that are faced when they try to export to the European Union and the US were also made.

They also called for the allowance of a minimum of 5% Rebate on merchandise exports under the Foreign Trade Policy of Pakistan. They said it is important to note that our competitors grant a 15% rebate on merchandise exports.

Resumption of freight subsidy allowance for frozen and fresh seafood exports along with the lifting of the ban on seafood exports to countries like Saudi Arabia was also discussed.

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