FPCCI President seeks exports to Afghanistan under firm contract

KARACHI: Mian Nasser Hyatt Maggo, President FPCCI, has demanded that 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, he added, says a Press release.
Mian Nasser Hyatt Maggo reiterated that, 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. However, customs department is still displaying its inability to allow such arrangements; as it maintains that SBP is yet to issue a formal notification in this regard.
Nasir Khan, VP FPCCI, has emphasized that emerging import gaps in Afghanistan are presenting great opportunities for Pakistani exporters on the back of geographical contiguity brotherly relations between the two countries.
Mian Nasser Hyatt Maggo restated the fact that the apex representative trade body of Pakistan is wholeheartedly supporting the vision of Prime Minister of Pakistan 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 & domestic investments and create employment opportunities, he added.
FPCCI is eagerly looking forward to a timely decision and notification in this regard from State Bank of Pakistan; and, willing to have a consultative session with the SBP officials, if there is a need.