Business

SCCI welcomes extension of cash in counter facility

Written by The Frontier Post

F.P. Report

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) has welcomed the government’s decision of nearly two and half month extension regarding cash in counter facility, termed the move would not only facilitate regional trade but it would also ease out difficulties of business community, especially exporters.
While presiding over a meeting of industrialists, exporters and importers here at the chamber house on Friday, SCCI president Sherbaz Bilour said that owing to concerted efforts of the chamber, the State Bank of Pakistan in light of the federal government, minister of commerce, had taken decision that the authorized dealers may accept cash convertible currencies brought over their counters as export proceeds for settlements of exports to Central Asian Republic (CARs) through land routes till October 15, 2021.
After this period, he added, the authorized dealers shall allow the realization of export proceeds against exports to CARs only through banking channels as per notification of the central bank.
The meeting was also attended by the chamber senior vice president Engineer Manzoor Elahi and vice president Junaid Altaf and others.
The participants highly appreciated the government’s decision, allowing exports in convertible currencies to the CARs, saying that the move would give a boost to exports to regional countries, especially to mitigate problems of the exporters.
Sherbaz Bilour while addressing on the occasion emphasized that the mutual trade between Pakistan and Afghanistan and onward to regional countries is essential to stabilize and strengthen the national economy that would also help to generate diverse employment opportunities in the country.
SCCI chief informed that the chamber had already presented a written draft to the federal government, suggesting different points/proposals to strengthen trade with Afghanistan and onwards Central Asian Republic (CARs) countries.
He expressed hope that the chamber proposals would be implemented with true letter and spirit that can help to further boost up regional trade.
Sherbaz Bilour mentioned that during the visit of Prime Minister Imran Khan to Uzbekistan, the SCCI had signed different agreements with the Uzbekistan Chamber, saying that the enhancement of economic and trade relations between SCCI and Uzbekistan chamber was part of the efforts to strengthen the regional trade.
The chamber president stated the recent agreements had been signed during the visit of Prime Minister Imran Khan to Uzbekistan, which have opened vast opportunities for promotion of regional and mutual trade.

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