PHOTO: FILE
He was speaking at an awareness session on the online portals organised by the State Bank and the FX Operations.
“Such efforts will have a positive impact on imports and exports and increase economic growth. They will also help increase foreign reserves,” he noted.
State Bank Director Shakeel Paracha, Joint Director Noorullah, former QCCI president Juma Khan Badizai, Focal Person Salahuddin Khilji and other officials and members were also present at the event.
The State Bank officials said legal transfer of funds was one of their top priorities and recommendations for a border trade system had been sent to commerce ministry.
They added that a committee on border trade was also working.
The QCCI members said they had recommended several initiatives.
They informed the State Bank officials that they had their own export finance scheme for providing loans to exporters at a 3% interest rate.
They proposed facilitating the transfer of money and money changers in obtaining licences, saying that it would increase business activities.
They pointed out that there was $35 million border trade between Turkey and Iran.
At the end of the session, Paracha and Noorullah received shields from the QCCI office-bearers.
Published in The Express Tribune, February 8th, 2020.
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