IMF inquires about USD 3b pending from exports

According to the letter sent by IMF Resident Representative Jayendu Dey to the Commerce Secretary regarding the convening of the meeting, the agenda of the meeting was update on customs policy making, impact of trade agreements and agreements on tariff rates, digitization of customs administration. and technical assistance in the implementation of these programmes.

According to a letter sent by IMF Resident Representative Joyendu Dey to the Commerce Secretary regarding the holding of the meeting, the agenda of the meeting included the latest status of tariff policy formulation, impact of trade agreements and deals on tariff rates, digitization of customs administration. Was. and technical support required to implement these.

Talking to reporters after the meeting, Commerce Secretary Tapan Kanti Ghosh said, ‘These issues were not raised in the meeting. The entire discussion was on export-related issues, including complexities in the export process, pending export earnings of US$ 300 billion, fixing a specific rate for money-exchange in exports and imports, and ways to expand exports.

Asked about his reaction to the IMF probe regarding USD 3 billion in export dues, the commerce secretary said, “We said it is long overdue. The fact that this money is lying pending in the recent past is not at all like that. It accumulated over the years.

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