KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the State Bank of Pakistan (SBP) to allow Customs Department enable exporters to conduct their trade transactions under firm contract to Afghanistan, a statement said.
FPCCI president Mian Nasser Hyatt Maggo said that currently the exporters are only allowed to trade on advanced payment basis to Afghanistan.
He reiterated that a few months ago during the FPCCI delegation’s visit to the central bank and meeting with its governor, this issue was raised and an agreement was reached, in principle, to allow exports to Afghanistan under the firm contract.
However, the Customs is still displaying its inability to allow such arrangements; as it maintains that the SBP is yet to issue a formal notification in this regard.
Nasir Khan, vice president of the FPCCI, emphasised that the emerging import gaps in Afghanistan are presenting great opportunities for the Pakistani exporters on the back of geographical contiguity and brotherly relations between the two countries.
Maggo said the apex representative trade body of Pakistan wholeheartedly supports the vision of Prime Minister Imran Khan to enhance Pakistani exports in a swift and sustainable fashion.
Increased exports will result in stable foreign exchange reserves and contribute to economic growth; encourage foreign and domestic investments and create employment opportunities, he added.
The FPCCI is eagerly looking forward to a timely decision and notification from the State Bank of Pakistan and willing to have a consultative session with the SBP officials, if there is a need.