Traders and members of the business community have urged the State Bank of Pakistan and the Federal Revenue Board to simplify complex export-boosting rules and regulations. They suggested that commercial banks should promote the export form (E-form) of the business community to help increase trade with Afghanistan and other regional countries.
The request was made during an awareness seminar entitled:’ Foreign Exchange’ organized jointly by the Sarhad Chamber of Commerce and Industry and SBP on Friday at the chamber’s house here. SCCI President Sherbaz Bilour chaired the case.
They also expressed their views with a number of businessmen, including SCCI senior vice-president Manzoor Elahi, former vice-president Abdul Jalil Jan, executive body members Zahoor Khan, Mohammad Auranzeb, Khalid Shahzad and others, senior SBP officials Faizan Umar and Amir Mumtaz, additional customs collector Zakir Khan, Soneri Bank official Sherhyar Amjad and Smeda provincial chief Rashid Aman.
On that day, a large number of merchants, exporters and importers were present.
The speakers highlighted the problems facing exporters and importers in terms of export form (E-form), export output surcharge, US dollar exports against Pakistani rupees and other issues. These issues were discussed by the participants and proposals for their resolution were issued.
Sherbaz Bilour urged the government, the central bank, the customs department and other related authorities to implement steps aimed at simplifying complicated laws and regulations aimed at boosting regional trade.
The SCCI chief asked the SBP to issue directives to Khyber Pakhtunkhwa commercial banks to allow exports to the Pakistani rupee in US dollar terms, which could facilitate bilateral trade through the use of legal means and banking channels. He said that this would improve exports from the country and stabilize the local economy.
Earlier, SBP officials briefed participants on foreign exchange and various export-related rules and regulations.