-In order to get maximum benefits from the GSP Plus status, Trade Development Authority of Pakistan (TDAP) has planned to hold an international exhibition in UK to attract European buyers. S.M Muneer, Chief Executive (CE) TDAP during his visit at Karachi Press Club on Tuesday said that "Aalishan Pakistan" exhibition will be held in June this year in London and Prime Minister Mian Nawaz Sharif has been requested for inauguration this mega event.
"This exhibition will help Pakistani exporters to get maximum benefits from GSP plus status, granted by EU for ten years", he added. Talking the major hurdles in the economic revival, he said that uncertain economic policies, poor law and order situation, energy crisis and political uncertainty are directly hurting the industrial and economic growth. However, he appreciated the federal government's efforts to end energy crisis and said that govt has initiated several new power projects, which will help to enhance domestic industrial productivity.
Muneer said that delay of refund payment is hampering Pakistan's exports. The country can enhance its exports by 4 to 5 billion dollar in next couple of years by settling pending refund claims, he added. He said that TDAP has been making efforts for timely release of refund claims and hopefully this issue will be resolved soon. Replying, a question he said that Karachi operation is a good initiative by the federal and provincial govt and all law enforcement agencies are making efforts to restore peace in the economic hub of the country.
With these efforts target killing has been reduced in the city, while kidnapping and ransom cases have been also declined significantly. Talking about the Expo Pakistan exhibition, CE said that recently TDAP has successfully organised the Expo Pakistan at a lower cost compared to previous year. Overall some Rs 150 million has been spent on this event as against Rs 250 million last year, while this year some 790 foreign delegates attended this mega event and placed orders worth $1.3 billion.
"Despite worsening law and order situation and internal security issues, foreigners are ready to invest and establish business relations with Pakistani exporters and traders", he added. On the occasion, Rahim Jano senior vice chairman the Federation Pakistan Chamber of Commerce and Industry (FPCCI) said that despite decline in the rice prices worldwide, Pakistan's rice exports will maintain its last year level. Presently, Pakistani exporters are facing a tough competition as India and Vietnam have also cut their rice prices to capture the international market.
He said that United Businessman Group has decided restructuring of FPCCI to make it beneficial for the business community. Zubiar Tufail vice president FPCCI said that declining world oil prices has giving an opportunity to reduce our import bill and to overcome from energy crisis.
He said that overseas Pakistanis are contributing in the economic development by sending billions of dollar remittances annually. "Overseas Pakistanis have sent some $11 billion during this fiscal year and expected to send some $8 billion in remaining five months. It has been estimated that overall remittances will reach about $19 billion by the end of this fiscal year compared to $15 billion last fiscal year", he added. Tufail said that still billions of dollars are being remitted through illegal channels and govt can divert these
remittances toward legal channels by offering a better exchange rate to overseas Pakistan. Khalid Tawab former vice president FPCCI said that govt should include business community and federation's proposals in the next budget. He said that govt can bring the economy on right track by implementing FPCCI budget suggestions.
Ubaidullah Qadri leading gem and jewellery exporter said that Pakistan has billions of dollars mines of precious stones in the northern areas; however it is being exported without value addition. "Even India's gem export is higher than Pakistan's total exports. During 2013, India's total gems exports was some $29 billion", he mentioned. He urged the federal govt to give priority to this neglect sector to earn billions of foreign exchange.
"There is need to setup gems cutting and polishing training center across the country to produce skilled workforce for value addition of precious stones, which are presently being exported in raw shape at very lower price", Qadri said. Gulzar Feroz spokesman of UBG said that after successful experience of TDAP, govt should depute reputed businessmen in other loss making institutions to improve their performance. On the occasion President KPC Fazil Jamili, Secretary A H Khanzada, vice president Nawab Qureshi, member governing body Sajjad Abbasi, Kafiluddin Fezain, Siddique Chaudary and others were also present.
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