RAWALPINDI - Rawalpindi Chamber of Commerce and Industry (RCCI) President Mian Humayun Parvez has urged the government to devise a comprehensive strategic approach to boost exports.
In a statement issued here on Monday, Mian Humayun Parvez said that a continues fall in exports has been observed despite numerous incentives announced for traders’ community; GSP Plus status, Rs 3 cut in power tariff for industries, low oil prices and preferential trade agreements (PTAs) with certain countries. This is an alarming situation for the economy and the government should evolve a comprehensive strategy in consultation with the private sector to increase exports, he added.
President RCCI said that when we compare Pakistan with its neighboring countries, many countries are ahead of Pakistan despite having great potential. Pakistan had surplus wheat, rice and sugar but due to lack of planning and policy our exports are facing a stagnant behavior. “Country’s exports dropped by 14.37% in July-Jan 2015-16 where as exports of competing country Bangladesh increased by 8% in the same period”, he said. More than 30% manufacturing capacity of textile industry has become idle and thousands of jobs are being laid off due to industrial closure, he added. “5% of export revenue gets stuck up in present refund regime, which is the major cause of export decline,” he added.
Mian Hamayun Parvez expressed grave concerns over delaying Strategic Trade Policy Framework (STPF) 2015-18. STPF could help devise a strategy to enhance exports and bound imports, he added.
He said that the government should devise an aggressive export policy that gives more relaxation and friendly environment to our exporters to enhance exports. Trade shows, Single Country exhibitions, frequent exchange of delegations, seminars, conferences, public-private partnership, trade dialogue, access to market, easy transportation, low taxation and duties should be a key part of such policy, he urged.