Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Vice Chairman Usman Ashraf welcoming the announcement of the committee comprising representatives of various export sectors headed by Shahid Hasan Sheikh on behalf of the Lahore Chamber said that the State Bank is requested to immediately withdraw the circular of deduction from 3 to 9 percent on receipt of payments from abroad after the stipulated period in the best interest of domestic exports.
He expressed these views while addressing the weekly review meeting of the association. On this occasion, Senior Central Leader Abdul Latif Malik, Chairman of Carpet Training Institute (CTI) Ijazur Rehman, Senior Members Riaz Ahmed, Pervaiz Hanif, Saeed Khan, Major (Retd) Akhtar Nazir, Akbar Malik, Shahid Hassan, Umeer Usman, Daniyal Hanif, Faisal Saeed Khan and others were also present.
Usman Ashraf said that all export sectors should submit viable proposals for increasing domestic exports in the next financial year’s budget and recommendations to remove the difficulties and obstacles created by the State Bank and other institutions. He said the Association has already expressed its reservations on the circular of the State Bank and has given a clear stand regarding its negative impact on the export sectors.
“We hope that the State Bank will consider the demand of the Chambers and Associations of Export Sectors across the country and withdraw this circular immediately in the best interest of the country,” adding he said export sectors are already facing multifaceted challenges due to the non-opening of LCs and several difficulties in importing raw materials, increase in the cost of production and fluctuations in dollar value and such situations, strict rules and regulations from the State Bank are adding to the difficulties.
He has welcomed the announcement of a representative committee of export sectors on behalf of the Lahore Chamber and the proposal to form committees comprising all export sectors to solve the problems. He further said that the allegation of money laundering in export sectors is very absurd and in the situation that has arisen, it has become a norm to delay payments against exports.
“The government should gain awareness regarding the difficulties faced by all export sectors and take the relevant stakeholders into confidence before implementing any policy so that misunderstandings do not arise,” adding he concluded that pending refunds should also be paid as soon as possible so that the shortage of capital in the market can be eliminated.
SBP urged to facilitate carpet sector to boost exports
