Challenges to export sector: Minister concerned about slow progress of some depts

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan chaired the first meeting of the Executive Committee of the National Export Development Board (NEDB).

The meeting convened key stakeholders, including representatives from the Finance Division, Federal Board of Revenue (FBR), Board of Investment (BoI), Ministry of Industries and Production (MoIP), and representatives of all the provinces to discuss and resolve pressing challenges faced by exporters as discussed during last meeting of NEDB.

Recommendations from this session will be presented to Prime Minister Shehbaz Sharif in an upcoming NEDB meeting, where strategic decisions are expected to remove barriers impeding Pakistan’s export growth.

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During the session, Jam Kamal Khan expressed his concerns over the slow progress by some departments outside of the Ministry of Commerce in tackling export challenges and resolving the major issues being faced by exporters.

Jam Kamal underscored the urgency of concrete action, noting, “Except for the Ministry of Commerce, tangible steps have been scarce, though some departments have submitted their initial proposals.” He emphasised the importance of unified support across federal and provincial levels to help Pakistan’s export sector flourish.

A focal point of discussion was the infrastructure cess imposed on exports by the provinces, which increases the cost of goods sold internationally, affecting Pakistan’s global competitiveness.

In a recent letter to the chief ministers of Sindh and Khyber Pakhtunkhwa, Minister Khan urged provincial authorities to reconsider the cess, highlighting its adverse effects on the country’s trade potential.

The meeting also featured a comprehensive presentation by Muhammad Ashraf, the Executive Director General, who detailed the export profiles, issues and challenges, critical success factors and plans of action for accelerated export growth of leading export sectors developed in consultation with the existing 16 sector councils.

These councils are pivotal in addressing cross-cutting issues across various export industries, and sector-specific challenges.

Minister Jam commended the efforts and encouraged the establishment of additional sector councils with a sharper product focus, aimed at making them more export-oriented and impactful for the nation’s growth.

To build a more cohesive framework, Minister Jam Kamal recently reached out to the chief ministers across all provinces. While Punjab and Sindh have responded, replies from Khyber Pakhtunkhwa and Balochistan are still awaited.

In this regard, he remarked, “The government is committed to supporting our exporters and the industries that are the backbone of our economy. We are looking to resolve these issues swiftly, with decisions expected to be made at the highest level during the upcoming NEDB meeting chaired by Prime Minister Shehbaz Sharif.”

As the NEDB continues to drive forward Pakistan’s export agenda, stakeholders are hopeful that these multi-faceted collaborations will bring actionable results, fostering an export environment that strengthens the nation’s economic resilience and competitiveness on the global stage.

Copyright Business Recorder, 2024