GOVERNOR STATE BANK’S ANNOUNCEMENT TO EXTEND THE CUT-OFF DATE OF EPD CIRCULAR NO. 01 OF 2023 On March 09, 2023, Mr. Abdul Ghafoor Malik, President Sialkot Chamber of Commerce & Industry attended the inauguration ceremony of the new State Bank of Pakistan building in Sialkot. On the occasion, the President had a one-on-one meeting with the Honorable Governor State Bank of Pakistan Mr. Jameel Ahmed wherein multiple issues of the industry were discussed including but not limited to the extension in EPD CIRCULAR NO. 01 OF 2023 (OVERDUE PAYMENTS), Facilitation in the import of raw material for the export sector, expedited approval of EXIM Bank of Pakistan, offering of Credit Insurance by the Commercial Banks against Export Shipments, and issuance of Credit Cards to Corporates. The President Chamber shared that the cut-off date of March 01, 2023, prescribed under the circular EPD CIRCULAR NO. 01 OF 2023, was too early, and the same should be extended to at least 6 months to allow the exporters to settle their overdue cases. On the occasion, Mr. Jameel Ahmed, Honorable Governor of the State Bank of Pakistan announced that a 06 months extension would be given on the cut-off date of the EPD Circular No. 01, 2023 allowing the exporters an ample amount of time to settle their overdue proceeds. The Governor shared that a relevant circular in said regard would be issued in the month of March 2023. Mr. Abdul Ghafoor Malik thanked the Governor State Bank of Pakistan for the most positive announcement made in the greater interest of the export sector. He assured that the exporters with overdue proceeds due to genuine reasons would conveniently be able to settle their accounts with the announced extension. March 09, 2023

On March 06,2023 SCCI conducted the advanced diplomatic course in-collaboration with Foreign Service Academy Islamabad, for foreign diplomats of Bulgaria, Kenya, Maldives, Somalia, South Africa, Sudan, Tajikistan, Turkmenistan and Uzbekistan. Mr. Abdul Ghafoor Malik chaired the session and briefed the participants regarding the industries of the Sialkot, the achievements of the business community and exporting profile. The avenues of mutual collaboration for promotion of bilateral trade were explored during the session.

On February 06, 2023, The Ambassador of the Republic of Azerbaijan visited the Sialkot Chamber of Commerce and Industry in Pakistan to interact with the business community. The President of SCCI encouraged direct business linkages and said the chamber would send a trade delegation to Azerbaijan. The ambassador praised the achievements of the SCCI and announced a Preferential Trade Agreement to increase economic relations between the two countries. He suggested cooperation in non-oil energy, health, and agriculture sectors and said Azerbaijan was open to investments and was a great market for products such as rice, martial arts, and surgical instruments. The ambassador also expressed interest in increasing people-to-people linkages and ensuring business connections during the trade delegation visit.