KARACHI: Calculated measures should be taken to bring positive outcome from Strategic Trade Policy Framework 2015-18. Policy has already identified the focus products and markets, that can help turn around exports in the short term.
Representatives of Pakistan Tanners Association, Pakistan Apparel Forum, Pakistan Yarn Merchants Association, All Pakistan Marble Mining, Processing, Industry and Exporters Association, Surgical Instruments Manufacturing Association Pakistan, All Pakistan Business Forum, sport goods and carpet sectors were of the opinion that concerned ministries with full commitment would remain a central point to control decline in export in the short term, transforming the export sector structurally in the long-term.
The long-term strategy needs structural reforms of the entire export sector, including high tech and innovative products, value-added exports commodities and market diversification towards unexplored markets like South America and Africa.
Agha Saiddain of PTA, Ghulam Rabbani of PYMA, Sanaullah Khan of APMMPIEA, Ibrahim Qureshi of APBF, Rana Abdul Sattar from cotton sector, Shakeel Ahmad of Sindh Agriculture Forum and others were of view the structural change and business deep-rooted appointments are the need of the hour to bring drastic changes in Trade Development Authority of Pakistan current face.
There is dire need of formation of new trade specific export promotion agencies having independent budgets and policies.
They said that a quick turnaround can come from increasing competiveness of the existing export base and demand-led production of agricultural products, especially high value agriculture products.
The current export portfolio is marred by a lack of diversification, as few products are exported by some exporters to limited markets. So, a major enhancement in exports requires huge and wide structural reforms.
The government to take business community on board, who are the real stakeholders, in preparing policies to enhance exports so that fast widening trade deficit could be reduced, which is prerequisite for economic growth.
Business related government departments and private sector businessmen should come on same page for finding out a methodology for increasing the exports of the country.
The business people urged the government that all stakeholders be taken on board while preparing industry-related and export promotion policies.
They asserted that industrial estates be exempted from power and gas load shedding to meet the local market and export targets.
The government should get input from the private sector on policies and encourage public private partnership to stimulate various government organizations.
The Federal Board of Revenue and Ministry of Finance should seriously take matter of tax refund claims which has been unduly delayed.
In case of government’s lack of interest and negative response to private sector’s appeals, the economy would continue to slide ultimately resulting in closure of industry and trade.
The finance and economic policies managers in the government should have a clear vision on the economic issues, which would help resolve economic and export problems of both-government and export industry.