FAISALABAD: State Minister for Finance Rana Mohammad Afzal on Saturday said the government was actively considering a proposal to clear Rs137 billion pending refund claims of exporters by issuing monthly post-dated cheques.

Addressing members of the Faisalabad Chamber of Commerce and Industry (FCCI), the minister said these cheques would be tradable in the market and the ultimate objective of this proposal was to enhance exports by resolving the liquidity issue faced by the exporters.

Mr Afzal said Iran was willing to enhance trade with Pakistan and a committee headed by the State Bank of Pakistan governor had been constituted to take measures for setting up two bank branches in each country.

He said 500 Chinese industrialists wish to invest in Pakistan but have been unable to find proper businessmen with mandatory balance sheet requirement.

He also shed light on Afghanistan’s complaints of trade regulation through Torkham and Chaman borders, as well as the fencing of Pak-Afghan border. The said measures will potentially result in pushing up exports to Afghanistan by $2 billion. He further assured his government’s plans for reducing the cost of doing business.

The first phase of Neelum-Jhelum hydropower project, set to start operations in March, would hopefully help achieve the cut down.

Published in Dawn, January 7th, 2018