Speakers at a seminar on "budget proposals relating to export-oriented sector" have called for a better portion out of this year's budget for export-oriented industries to uplift the country's economy. The participants were of the view that rules, regulations and procedures for export-oriented sectors should be easy so that it could play its due role in economic stability of the country.
LCCI Vice President Nasir Saeed while talking about his concerns over the country's export said, "It is a matter of concern that exports are showing a decline trend despite the fact that the country has all resources. It is expected that exports remain limited to $23 billion at the end of the ongoing financial year which is not a good omen." "We have to focus on investing in the energy sector, lower tariffs on smuggling-prone items, increase share of direct taxes in revenue and reduce the slab of indirect taxes in the forthcoming budget to achieve key economic targets set for the year 2016-17. To fill the gap between demand and supply of the energy, maximum funds should be allocated for construction of dams and water reservoirs and tapping the Thar Coal. Although the government is doing a lot in the energy sector, there is still a dire need to complete the ongoing power project as soon as possible," he added.
He further said several sectors in Pakistan including infrastructure development, coal, energy, agriculture, livestock, textiles and pharmaceutical offered lucrative investment opportunities to foreign investors, but because of absence of a proper and well tailored marketing strategy these opportunities are unattended even today.
Customs (Exports) Deputy Collector Sheraz Ahmed then gave a detailed presentation on the export-oriented industry. LCCI former senior vice president Malik Tahir Javed, Chief Collector of Customs (Centre) Sumera Nazir Khan, Customs (Exports) Collector Samina Tasneem Zahra and Collector Muhammad Sadiq also attended the seminar.
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