Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said on Monday that the export industry was one of the government’s highest priorities.
In a tweet, the federal minister vowed to facilitate imports saying, “Five (previously) zero-rated export-oriented sectors, and all other exporters, will be given complete facilitation for import of raw material, parts and accessories to meet their export requirements.”
The finance minister’s statement comes after thousands of containers packed with essential food items, raw material, and medical equipment have been held up at Karachi port as the country grapples with a desperate foreign exchange crisis.
A shortage of crucial dollars has left banks refusing to issue new letters of credit (LCs) for importers, hitting an economy already squeezed by soaring inflation and lacklustre growth.
Published in The Express Tribune, January 17th, 2023.
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