11/01/2012 (DAWN.com) - Trade Development Authority of Pakistan Chief Executive Tariq Iqbal Puri has said that the authority would arrange a meeting of top businessmen with Prime Minister Yousuf Raza Gilani for the release of stuck up sales tax refund claims.

He said this while addressing the members of Korangi Association of Trade and Industry (KATI) at a luncheon meeting. He added that the delegation would be led by S M Muneer and would include minister of commerce, secretary commerce and himself.

Puri said so far an amount of Rs3.7 billion has been disbursed among the exporters against refund claims.

He further said that future meetings of the Export Development Fund (EDF) would be held in consultation with the stakeholders as well.

TDAP has also announced that the year 2012 would be the focus year on `Regional Trade and Export Promotion`.He informed that the issue of EU Economic Package would be resolved soon as meetings with the opposing countries have already been held and their reservations about the package have been removed and positive results are expected in February this year.

Puri said that the Preferential Tariff Agreement (PTA) with Indonesia is being signed later this month following which Pakistan would be able to have a cushion of 10 per cent in import of edible oil which would help reducing the import bill on palm oil.

The TDAP chief further clarified that the MFN status to India is yet to become effective and final decision would only be made after the consultations with the trade sectors concerned. He said that a full-fledged delegation from India is scheduled to arrive in February 2012 for follow-up meeting in this regard.