Trade Development Authority of Pakistan (TDAP) Chief Executive Officer Tahir Raza Naqvi has said that new trade policy with a special focus on enhancing export volume would be announced within next 10 days. He was talking to newsmen at the Regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Responding to a question regarding decline in the exports, he said new markets would be explored for Pakistani merchandise while diversification in trade goods would also help overcome trade deficit. About the issue relating to release of export development fund, Naqvi said that legislation was underway to permanently resolve this issue.
He said Pakistan could harness markets in the Central Asian States by marketing its products that could fetch substantial amount of foreign exchange to the national exchequer. He also assured the business community on the occasion that all possible steps would be taken to facilitate the exporters, as close co-operation between the businessmen and the TDAP would help improve the country's exports.
Speaking on the occasion, FPCCI Regional Chairman Sheikh Abdul Waheed Sandal and Vice President Azhar Majeed Shaikh said exports of textile, leather goods, rice, fresh fruits and vegetables had been declining mainly because of lacking business friendly policies. They demanded of the government to impose maximum regulatory duty on the export of raw material to encourage value addition in export goods. This step would also help enhance the country's foreign exchange reserve besides getting rid of menace of unemployment.
They said in the changing global economic scenario, the whole world was pinning its hope to the developing nations to become alternative engine of global growth. "Our neighbouring countries India, Bangladesh are capitalising this dwindling and perplexed situation. Time is ripe now for Pakistan to excavate real potential for bailing out the ailing economy through export led growth.
We have to take certain policy initiatives including zero rating on raw material imports for re-exports, expansion and streamlining the procedure of export re-finance scheme, concessional finance for exports, mitigating exorbitant charges on L/C collection, reduction of tariff and non-tariff barriers, broadening the scope of DTRE scheme by lessening superfluous documentation and monitoring requirements coupled with delayed approvals, provision of R & D support facility to all export sectors, speedy clearance of duty draw back claims, introduction of export credit guarantee scheme as in India, proper utilisation of EDF by sponsoring financial assistance for Exhibitions and Delegations, subsidy on air freight, recruitment of true professionals as commercial secretaries representing major export industries." Iftikhar Ali Malik Vice President Saarc Chamber of Commerce and Industry and Senator Haji Ghulam Ali former President FPCCI also spoke on the occasion.
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