Daily Times

Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Vice Chairman Usman Ashraf has called upon all export sectors to submit viable proposals for upcoming budget.

Addressing weekly review meeting of the Association here on Sunday, he said that all stakeholders must point out their issues and also come up with suggestions and solutions for increasing exports. Usman Ashraf welcomed the Lahore Chamber of Commerce and Industry (LCCI) initiative of constituting a committee comprising representatives of various export sectors, headed by Shahid Hasan Sheikh. The committee was entrusted to sort out exporters’ issues and collect viable suggestions from the stakeholders. He requested the State Bank of Pakistan (SBP) to immediately withdraw the circular regarding deduction from 3 to 9 per cent on export proceeds received after the stipulated time period as it would affect negatively the export-oriented industry in the country. He mentioned, “We have already expressed our reservations over the circular and its negative impact on the export sectors. We hope that the State Bank will consider the demand of the chambers of commerce, and the associations of export sectors across the country and withdraw this circular immediately in the best interest of economy.” He also dispelled the impression of money laundering through export sectors, arguing that it had become a norm to delay payments against exports, therefore the authorities concerned should realize the difficulties faced by the exporters and take the relevant stakeholders into confidence before implementing any policy. PCMEA Vice Chairman said that pending refunds should also be paid as soon as possible so that the shortage of capital in the market could be eliminated.