Exporting cosmetics, utilities and agro based industry products can bring foreign exchange worth billions of dollars to Pakistan to strengthen the economy which is undergoing troubled times the government should introduce business friendly policies to attract maximum investment to increase exports.
” Cosmetics and utilities are a huge sector for export. It has potential of 10 to 12 billion dollars. If we shift its certification from Drugs Regulatory Authority of Pakistan (DRAP) to Pakistan Standards and Quality Control Authority (PSQCA), we can inject these dollars to our economy overnight, Multan Chamber of Commerce and Industry(MCCI) President, Mian Iqbal suggested during an exclusive interview with APP here on Sunday.
Moisturizing lotions, whitening creams, beauty soaps, facials and scrubs are basic utilities which are in daily usage for everyone, he said and added that if rules are relaxed for its exports in the market, these can add billions of dollars to Pakistani exports.
He informed that fruits and vegetables are perishable and these can be transported to foreign countries with different means. Some countries who import fruits and veggies have set their standards and criteria for it.
” First, we should identify our markets before exporting and secondly we should meet the criteria of the countries. For example, we cannot export mangoes to the USA and Europe without hot water treatment. Our farmers and exporters should be educated about these terms and conditions. Fruits and vegetables are a big market,but unfortunately, over 50 percent of them are wasted after harvesting because neither we have good quality and large cold storage nor have foreign markets to export. Farmers and growers have to bear the brunt, if sector is dealt properly, it can be a huge avenue for exports,” Main Rashid Iqbal explained.
Likewise, Pakistan is exporting 11 billion dollars Information Technology at the moment where only upto 3 billion dollar is reaching the country as foreign exchange because people had parked their money in their Dubai and England based companies and they only invest the money which is permissible in Pakistan, the seasoned businessman informed.
The MCCI president regretted that when a businessman earned dollars from foreign counties and got its transaction in Pakistan, FIA reaches his home to ask from where he had earned this money while he had not exported anything . This is because of laws made under FATF in a haste. He demanded the government to rectify this type of legislation at the earliest so that IT exporters could carry Rs 8 to 10 billion dollars to the country without any fear and fright to add more to our economy.
Replying on a question, he underlined the need of improving trade ties with Central Asian countries saying that we are only focusing on the USA and West even though they are thousands miles away from us where freight issues are too much besides time span .
“Afghanistan is a good source of trans border trade. Central Asia is a big market. Tajikistan, Turkmenistan, Azerbaijan and Armenia are a landlocked area. They could not see industrialization owing to being under control of the Soviet Union which had kept them as raw material producers. Kazakhstan and Tajikistan produce cotton on a very large scale, but there are only ginning factories. They do not have textile mills.There is an acute shortage of industry in these countries. These can be very potential markets for export. The only problem is that the road to these countries leads from Afghanistan and we do not enjoy good relations with it ,” Mian Rashid Iqbal maintained.
To another question, he stated the Charter of Economy (CoE) was a demand of the business community and as MCCI president, he would request govt and all political parties to join hands for the welfare of the masses and join the same page as soon as possible as it will pave the way to cement the economy of the country.
To yet another question, he said that the agro based industry should go for value addition adding that it is good step to export fresh material but it is equally good if we preserve it and make Jam, jellies and do deheyderation of vegetables. After value addition we can sell them at very high rates, he concluded.