The Federal Board of Revenue (FBR), on Sunday, has issued a new draft of rules on Export Facilitation Scheme 2021.

According to the details, the new Export Facilitation Scheme has been approved by the federal government and passed by Parliament under Finance Act 2021.

Moreover, this scheme will run parallel with existing schemes like manufacturing bond, duty and tax remission for exporters and export oriented schemes for two years.

It is pertinent to state here that the old schemes will be phased out within a duration of two years and the Export Facilitation Scheme-2021 will be put under practice.