Daily Times

Faad Waheed, Acting President, Islamabad Chamber of Commerce and Industry has lauded the initiative of State Bank of Pakistan for relaxing some restrictions on imports and allowing imports pertaining to HS Code Chapter 84, 85 and certain items of Chapter 87 from 2nd January 2023. He said it would facilitate in improving manufacturing and business activities. However, he said that the economy of Pakistan needs to boost exports for which it is important that the SBP should further relax import restrictions and adopt a more lenient import policy as many export-oriented industries have to import raw materials and intermediate goods to produce the finished products. He expressed these views while talking to a delegation of the business community. Group leader Khalid Iqbal Malik, Mian Shaukat Masud, Muhammad Ejaz Abbasi, and others were in the delegation. Faad Waheed said that the collection at the import stage contributes almost 50 percent of the total revenue collection.