ISLAMABAD: The exporters of copper ingots to China are facing problems due to indecision on the part of FBR in resolving irritants relating to exports facilitation scheme.
The steel industry is running from pillar to post to get a small issue relating to EFS resolved, however, despite numerous meetings, the issue has not been addressed despite wastage of eight months.
In this regard, a meeting of Pakistan Association of Large Steel Producers was scheduled with the chairman FBR. However, the delegation was unable to meet the chairman who was not available due to other pressing engagements with the prime minister.
As a result, the meeting was chaired by Member Customs, Policy Surraya Butt, and she was joined by Chief Customs Operations Yasin Murtaza, and staff officer to the chairman, Khurram Khawaja. During the meeting, member Customs Policy re-assured the PALSP delegation that every effort will be made to resolve the matter at the earliest.
It may be mentioned that during the last few years, ferrous and non-ferrous exports of steel sector have crossed the mark of one billion US dollars – and without any subsidy or support from the government. However, the exporters are facing teething problems in expanding the volumes of exports, the insiders confide.
During FY 2023, this sector increased exports of copper ingots by 400 million USD, in just one year.
According to steel industry, the steel sector has the potential to increase these exports from four to five billion USD in just two to three years. However, this objective could be achieved if different issues of the industry could be resolved with high priority. At this point in time, Pakistan is in desperate need to increase exports.
Copyright Business Recorder, 2023
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