Daily Times

The Pakistan Industrial and Traders Associations Front (PIAF) on Sunday called for finalization and then its early implementation of some export enhancement package, urging the government to rescue this vital sector of economy and get the relief package implemented in its true spirit for sustainability of country’s exports. Capacity of the industry was mostly un-utilized while overhead costs had increased which compelled the export sectors to think of alternatives, it maintained. PIAF Chairman Faheemur Rehman Saigol, in a statement here along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chaudhary, said early implementation of an export package can help steer the exporting industry out of crisis. The government needs to establish a long-term and sustainable policies in consultation with the real stakeholders to enhance exports, increasing foreign exchange earnings for the country. Presently, the high cost of doing business has proved to be dangerous for the export-oriented industry, as the ever-increasing energy, gas and power tariffs are the real threat to the economy amidst high markup rate and continuous fluctuations exchange rate. They demanded the quarters concerned for initiating steps such as provision of uninterrupted energy supply to the industry to make Pakistani exports competitive in the international market, besides evolving an export-led policy and availability of energy at regionally competitive prices for economic turnaround. The PIAF office-bearers mentioned that Pakistan’s share in global market was shrinking and going to other countries and unit price of its products was decreasing thus resulting in reduced profitability for Pakistani exporters.