Traders urged to adopt forward-looking approach
People are shopping in a crowded market of Rawalpindi where traders refused to follow lockdown orders issued by the Punjab government.. PHOTO: ONLINE
There is a need for robust and sustained growth in exports of Pakistan on an immediate basis, said Finance Minister Shaukat Tarin.
While meeting a delegation of exporters at the Finance Division on Friday, he urged the participants to adopt a forward looking approach for enhancing export earnings and reducing the trade deficit.
He directed the meeting to deliberate upon options aimed at lifting Pakistan’s value-added exports to the next level. The finance minister appreciated the Ministry of Commerce, Ministry of Industries and Production and the SBP for their outstanding support to the small and medium industries and timely interventions amid Covid-19 pandemic.
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While responding to queries related to the current energy requirements, Tarin stressed the need for load management by switching to alternate fuel options during peak demand season.
He directed the participants to form a working group comprising of representatives from respective utility organisations for a prompt action to fulfil energy requirements on real-time basis in the respective areas. Talking about the stuck refunds of businessmen, the finance minister assured swift payments of the amount to exporters against their refunds.
He told the Federal Board of Revenue (FBR) officials that refunds requiring provincial government’s verification must be given on an interim basis subject to future adjustments. He constituted a sub-committee comprising of representatives from the Ministry of Commerce, FBR and the SBP to sort out such matters at an accelerated pace.
Published in The Express Tribune, August 14th, 2021.
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