Daily Times

LAHORE: Freshly inducted Federal Minister for Commerce Muhammad Pervaiz Malik said on Saturday the government, in collaboration with the private sector, will prioritize efforts to achieve the ‘realistic’ export target of $35 billion by 2018.

The minister gave the assurance to Saarc Chamber of Commerce and Industry Vice President Iftikhar Ali Malik in a meeting.

He said the commerce ministry would enhance cooperation with the Federation of Pakistan Chambers of Commerce and Industry, its affiliated chambers and trade associations to address the traders’ woes.

Iftikhar Ali Malik said he would play his part in undertaking reforms for boosting trade, increasing exports and attracting investments through improved business viability in the country.

He assured the minister of full cooperation on behalf of the business community by endorsing and supporting the positive steps taken by the government for trade promotion.

“The export target can only be achieved if exporters are refunded taxes worth Rs300 billion deposited by them with the government as an assurance that export earnings will be repatriated to Pakistan,” he added.

“A rise in exports will help the government boost its revenues and invest in the development of the country,” he said, deploring that Pakistan’s exports were stagnant whereas other regional countries had moved ahead.

The minister, after hearing suggestions, advised members of the business community to make forward planning in view of the opportunities presented by mega regional development projects, especially the China-Pakistan Economic Corridor and Turkmenistan-Afghanistan-Pakistan-India gas pipeline.

“These mega projects, coupled with development of infrastructure in the form of motorways and upgrading of Gwadar port, will open new avenues of economic activities in the country,” he added.