Traders reject draft trade policy

The business community, exporters and manufacturers of South Punjab have rejected the draft of three years trade policy approved by the federal cabinet without taking the stakeholders into confidence and consultation. Multan Chambers of Commerce and Industry (MCCI) President Mian Iqbal Hassan said, "To achieve $35 billion target till 2018 seems to be impossible regardless the government made all out efforts to facilitate textile sector in the form of subsidies".
However, there was no analysis available with the government that could precisely determine what factors played what role? Despite the fact, the country exports plunged to three years low of $,23.8 billion in the last fiscal year. However, in the first month of ongoing fiscal year the exports further plunged 17 percent which clearly showed the lack of importance of public private dialogue. Mian Iqbal Hassan said that Pakistani exports could achieve much higher earnings by focusing on product and market diversification and value-addition, especially in the agriculture sector. He said the government should facilitate private sector in diversifying export base and adding value to exportable products.