The Pakistan Economy Watch (PEW) has said that Pakistani exports have not decreased overnight and expanded trade gap. Favouritism, appointments in violation of merit and misuse of export incentives are to blame for the situation. It said the situation will not change unless appointments are made strictly on merit, outdated elements are removed and those behind the export drop should be held responsible, Dr Murtaza Mughal, President PEW said
In a statement on Sunday, he said that increased cost of doing business, energy crisis and non-payment of refunds by the FBR has also played a role in hurting exports. Policymakers are too much focused on textile sector for exports while other sectors and textile value addition have been put on the backburner which is limiting Pakistan's capability to benefit from GSP plus status.
Dr Mughal said textile sector is focused on European market only; they should also try to explore other markets and alter their strategy according to changing scenario.
He asked the government to focus on exports to increase income and avoid indirect taxation, unprecedented taxes on imported fuel, privatization, and loans to strengthen the economy.
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