PIAF welcomes relaxation in foreign exchange regulations to facilitate exporters

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Lahore: The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has appreciated the State Bank of Pakistan for relaxing its foreign exchange regulations, allowing exporters to directly dispatch transport documents to the buyers abroad against shipments valuing up to $100,000 or equivalent.

In a joint statement, along with senior vice chairman Tanveer Ahmed Sufi and vice chairman Khawaja Shahzeb Akram, he said that in wake of changing global trade practices and to facilitate exporters, the central bank move is expected to provide manifold benefits to the local exporters including reducing the cost of doing business, efficient processing of export documents and improving competitiveness of Pakistani exports in the international market.

Irfan Iqbal Sheikh also asked the SBP to issue circular for implementing the Prime Minister Export Enhancement Package in its true spirit. He stressed on the need for evolving an export-led policy and availability of energy at regionally competitive prices for economic turnaround.

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