The Small and Medium Enterprises (SMEs) making a business turnover of Rs. 50 million have been exempted from the levy of marking fee, as the government has decided to facilitate the SMEs and the manufacturers of compulsory products to give them relief amidst the inflation.
The Board of Directors of Pakistan Standards and Quality Control Authority (PSQCA), in its 23rd meeting, approved exemption.
It has been decided that the marking fee is to be reduced for more than 1500 industries that manufacture essential products and are registered with Pakistan Standards and Quality Control Authority to give them relief due to Market inflation in business to support the local industry.
The following table depicts the revision of the marking fee.
In Millions (Rs.)
|Proposed Marking Fee (Food Items)||Proposed Marking Fee (Non-Food Items)|
The PSQCA marking fee was previously revised in 2008 at the rate of 0.05% ex-factory price for food items and 0.1% ex-factory price for non-food products. The government was receiving requests from the industry to revise the marking fee.
The reduction will facilitate the micro, small, medium, and large enterprises of food as well non-food producing enterprises. It will also encourage new businesses to register and come under the ambit of licensing and certification regimes. Moreover, it will help increase the size of the economy.