In other demands, FIEO has urged for time-bound exports refund in 15 days. It also sought that RBI may extend the tenure of pre-post shipment credit. All existing pre and post shipment finance in foreign currency or Indian rupee should be extended on maturity by additional 90-180 days on auto route irrespective of the tenure of contract and sanctioned limit, the letter mentions.

FIEO has also made a strong case for reduction in GST rates on hotels, aviation and travel & tour operators who are bearing the maximum brunt of the present lockdown. It said that GST rates for these sectors should be reduced by 50 per cent for the next 12 months. In the letter, Mr Saraf also called for a one-time amnesty in advance authorisation/EPCG/EOU and other default in customs duties. This, it said, should be done by waiving interest and penalty and charging only basic customs duty.