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Exporters’ community suffering huge losses due to rupee appreciation

Exporters’ community suffering huge losses due to rupee appreciation

To,

The Honorable,

Federal Minister for Finance,

Islamabad

 

Respected Sir,

With due respect, I would like to draw your attention towards a sensitive issue pertaining to negative impact on export activities due to the dramatic decrease in US dollar rates.

Sir, a significant imbalance has been developed in exports due to the rapid decrease of US$ rate against the Pak rupee and it has put a negative impact on overall trade activities of the country.

Through this letter, I would like to inform you that the exporters’ community has been facing a loss of around US$1 billion due to the immediate decrease in the dollar rate.

Although we are granted GSP-plus status, the export community is neglected by the government, as we are depositing 3 per cent sales tax on export of our brands.

The federal government and Ministry of Finance should take effective steps to facilitate the exporters by reducing the sales tax and ensure provision of rebate facility, as this facility is being provided in our neighboring countries including India, China, Thailand and others.

The export community is being faced with issues including absence of proper infrastructure, energy crisis and worst law and order situation.

The government should ensure proper law and order situation and eradication of electricity load-shedding in order to increase the exports of the country.

We hope that the competent authority should take immediate notice of the issues and grievances highlighted through this letter.

 

Yours’ sincerely,

Abdul Jabbar Dalal,

KARACHI