PM Shehbaz announces blue passports for THESE individuals

ISLAMABAD: Prime Minister Shehbaz Sharif has announced a comprehensive package of exporters incentives to honor award-winning exporters and top taxpayers for their role in strengthening Pakistan’s economy.

The move establishes exporters as national assets who represent the country’s economic interests in international markets. The new policy grants Blue Passports to tax and export excellence award recipients for a period of two years.

The official passports which provide expedited immigration access to users serve as exclusive travel documents for high-ranking government personnel.

Awardees have received from the government honorary Ambassador-at-Large status which enables them to promote Pakistan’s economic interests to the world for two years.

The Export Refinance Scheme now allows exporters to pay lower financing costs through its markup rate which dropped from 7.5 percent to 4.5 percent. The government has reduced industrial electricity tariffs by Rs 4.04 per unit to enhance industry competitiveness.

The reduction of wheeling charges for industrial power sales to local customers now stands at Rs 9 per kilowatt-hour.

The exporters incentives program has two main objectives which include aiding companies to expand their international operations while evaluating top exporters as national assets who drive economic progress and stability.