PM Shehbaz asks FBR to ensure seamless refunds to exporters

Prime Minister Shehbaz Sharif on Tuesday warned the Federal Board of Revenue (FBR) against any delays in refunding exporters, aiming to alleviate concerns about meeting the $60 billion export target.

While speaking at the National Export Development Board (NEDB), the prime minister directed the commerce ministry and other departments to take “all necessary measures” to achieve the ambitious export target of $60bn in exports within three years.

The prime minister directed the ministry to resolve the issues raised by exporters and present a report within two weeks. He added that he would personally chair the NEDB meetings every six weeks.

The prime minister noted that the country’s exports had surpassed the $30 billion mark during the previous fiscal year, with IT exports contributing over $3.2 billion, thanks to government policies. He called it a “welcoming development.”

He lauded the business community and investors for their role in increasing exports despite challenging circumstances.

Furthermore, he tasked the ministry of national food security to work with the provinces to improve extension services and enhance agricultural exports.

Regarding the country’s exports to Europe and North America, the prime minister said that the delivery time for such exports should be reduced. He added that the ministry and Investment Board should also cooperate to ensure seamless transfer of Chinese export industries to the country.

He called for enhancing research and development, innovation, and brand development to increase exports.

The representatives of the export sector appreciated the prime minister for his frequent meetings to resolve their problems and called his keen interest in the export sector “very encouraging” to industrialists.

They also appreciated the prime minister’s initiative to ensure timely refunds by the FBR to the export industry.