Letter to BS on Govt hikes duty drawback rates on 102 exports items

The sufferings of the leather industry can be wiped out if 100 per cent taxes is compensated by way of duty drawback, not a mere 0.3 per cent

Fix duty drawback rates
 
The all-industry rates of duty drawback revised on Thursday shows only a marginal raise on 102 export items. The increase does not fully offset the taxes levied on raw materials, components, consumables that goes into export production.
 
The government should immediately look into raising duty drawback further to fully cover all the levies to make exports more competitive. With oil prices going up, rupee appreciating, there is hardly any workable profit for export trade. The sufferings of the leather industry can be wiped out if 100 per cent taxes is compensated by way of duty drawback, not