| OCR Text |
Show 259 It excluded Pakistan's traditional commodity exports20 and thus applied to items which constituted just over one-third of the value of exports at the time.2l After the scheme exports of items covered by bonus vouchers introduced the ,s of grew at an annual rate 13.2 percent. It has "in operation combined effectiveness usually reserved for theoretical a degree of elegance and discusslons.,,22 Nearly every observer the present writer has encountered has considered this to be very successful scheme for export promotion. a The export bonus scheme was not created in several earlier measures introduced deliberations These 1952. mechanism of of the providing subsidies or Committee that was through the use of access side since it has introduced a measure nonexporting industrialist? valve, Through this mechanism losses that and the can on of market oriented "the industrial (and consumption) picture. aid the use It imports the import resource How did it provided an important safety (to be described briefly below) an for import spare parts, equipment, and materials though at a very high cost, come to 23 The bonus voucher scheme has also been important his actual appointed in by importers who paid the exporter for the of his import privilege, industrialist could were inyolved export encouragement through the measures allocation into There vacuum, basically as a result of the Export Promotion either by the exporter use a He could thus avoid the from lack of critical replacement parts formerly frustrating and time or inputs consuming process of trying to get an import pennit to satisfy his urgent need, |
