Govt committed to provide exporters relief, says Hafeez Shaikh
Adviser to PM on Finance and Revenue Dr Abdul Hafeez Shaikh has said that the government is committed to provide the exporters relief with earlier repayments of export rebates and GST refunds.
Talking to a delegation of exporters in Islamabad on Friday, he said we will do whatever possible to ease out the exporters. He said that the GST refunds will be cleared within March and export rebates will be granted next month.
Hafeez Shaikh directed the Secretary Finance and Chairperson FBR to hold meetings with the relevant stakeholders and provide relief to the export sector as much possible.
The adviser appreciated the decision taken by All Pakistan Textile Mills Association not to lay off their labour in the time of crisis and advised them to take care of their workers as the government is taking care of them.
The delegation apprised the adviser on finance about the problems faced by the exporters in the wake of coronavirus breakout. It said the global economies have gone into a recessionary phase and the demand for their products especially apparel has reduced to a considerable level.
The delegation briefed the adviser that due to the outbreak of the coronavirus pandemic the global economies have gone into a recessionary phase and the demand for their products especially apparel has reduced to a considerable level. The exports which had shown an improvement in the February and March will receive a setback in the coming months. In view of the changing position of the global trade they had been facing problems with their cash flow situation and need help and assistance from the government mainly in expediting the repayments/refunds due so that they could come out of this crisis and could resume their repayments/refunds due so that they could come out of this crisis and could resume their business as early as possible.
The delegation presented a list of proposals to the Adviser Finance that could help them improve on their liquidity position and to run their businesses in the current situation when they are not expecting further orders and faster recoveries from their international buyers. The delegation apprised the government that they have decided not to lay off their daily wage staff in this difficult time.