Exports target unlikely to be achieved

ISLAMABAD - As the government has backed out of its commitment to end power crisis by December 2009, it will be difficult for the authorities concerned to achieve the annual exports target of $ 18.86 billion set for the ongoing fiscal year 2009-10, TheNation reliably learnt on Tuesday. According to sources, at the time of preparing Strategic Trade Policy Framework 2009-12, the officials of Ministry of Commerce were hopeful that the power crisis would go by Dec 2009 and, therefore, they set optimistic targets for the ongoing fiscal year. It might be mentioned here that in the last fiscal year 2008-09, country exported goods worth $17.78b and for having 6 percent export growth, the exports are set at $ 18.86 billion for the current fiscal year. The government in the start of the current month has backed out of its commitment to end power loadshedding by Dec 2009, as Minister for Water and Power Raja Pervaiz Ashraf said that investors were slow on rental power plants owning to growing criticism. Investors are uncertain to invest in these projects and now the crisis was likely to continue till June 2010, he said at that time. For the last two years not only the large industries but also the small industrial units have been suffering from power outage. Sources informed that ministry was considering that proper electricity would be provided to the industrial units after December that would help achieve the economic targets, especially the exports target. An official of ICCI told TheNation on condition of anonymity if the power crisis remained for the next few months, it would be difficult even to fulfil the domestic needs.

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