FAISALABAD - Federal Minister for Finance Asad Umar has said that the government is devising policies to ensure surge in exports.

He said exporters were the future of the country. Economic revolution can only be possible through trade promotion and all possible support to export sector is being extended to achieve optimum growth, he said.

Addressing the gathering of exporters, he said that government was fully committed to expediting growth of commerce to maximum possible level by using all available means. He said the government had revised the gas prices at US$ 6.5/mmbtu for export oriented sectors in Punjab to secure their competitive edge in international market.

He underlined the need of an automated system for exporters’ refunds and assured to bring systematic reforms in refund regime to save the exporters from liquidity crunch. “Government is committed to imparting all possible facilities to the textile sector as it is playing a major role in bringing economic stability and no country could achieve economic targets without the due role of exporters. Future of Pakistan is very bright and all resources will be mobilised to convert Pakistan according to the premier’s vision of economically stable and strong Pakistan,” he said.  Textile industry is the backbone of economy and remedial measures to overcome the challenges are being taken to uplift this sector, he said.

Speaking on the occasion, Minister of State for Revenue Hammad Azhar said that country was passing through an economic crisis; however the government had allowed Rs. 44 billion subsidy on gas prices for export oriented textile sector. FBR is working to reduce the regulatory duties on inputs to cut down the production cost of export goods.

On the issue of huge pendency in refund regime, he proposed to issue negotiable instrument for three years against pending refunds. FBR is devising a mechanism to automate the refund system, he added.

e assured to safeguard the interests of the export oriented textile industry as Pakistan could not make sound progress without turning around its sagging economy.