Exporters concerned over govt decision to reduce period of exports proceeds realization

By: News Desk
Published: 05:40 PM, 27 May, 2022
Exporters concerned over govt decision to reduce period of exports proceeds realization
Caption: President Pakistan Agriculture and Horticulture Forum (PA&HF) Shaikh Imtiaz Hussain
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President Pakistan Agriculture and Horticulture Forum (PA&HF) Shaikh Imtiaz Hussain and members have expressed serious concerns over the Government’s decision to reduce period of exports proceeds realization from 180 days to 120 days.

Shaikh Imtiaz stated that the relief provided to the exporters earlier in the wake of Covid-19 by allowing relaxation of 15 days in addition to 180 days for export proceeds realization proved to be a useful tool for them to manage their business in times of turmoil.

But when the economy was trying to recover from the aftermath of Covid, this move by the government would further aggravate the issues faced by the exporter community in wake of ever increasing freight charges and tough business conditions. It will make our exports less competitive in the international markets, he added.

PA&HF appealed to the government, in order to support the exporters that the initial time of 180 days for exports proceeds realization should be restored in order to relive some burden from the exporters who play a pivotal role in helping the country earn valuable foreign exchange and keep it afloat in the international markets.

Categories : Business