FPPCI seeks Afghan export boost

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded that the State Bank of Pakistan (SBP) should allow customs department to enable exporters to Afghanistan conduct their trade transactions under ‘firm contract’.

Currently, exporters to Afghanistan are only allowed to trade on advanced payment basis, FPCCI President Mian Nasser Hyatt Maggo said in a statement on Thursday.

“Few months back, during FPCCI delegation’s visit to SBP and meeting with the State Bank governor, this issue was raised and an agreement was reached in principle to allow exports to Afghanistan under firm contract,” he added.

However, customs department was still displaying its inability to allow such arrangements, as it maintains that SBP has yet to issue a formal notification in this regard.

Maggo said FPCCI wholeheartedly supported the prime minister’s vision to enhance Pakistani exports in a swift and sustainable fashion. “Increased exports will result in stable foreign exchange reserves; contribute to economic growth; encourage foreign and domestic investments and create employment opportunities,” he added.