President of Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has urged the government to take notice of the falling exports which will leave country on the mercy of remittances and the IMF.
Falling exports deprived common man to reap the benefits of reduced oil prices in the international market, he said.
Mian Zahid Hussain said that trade deficit has touched US 15.1 billion dollars mark in the first eight months of this fiscal which was US 14.49 billion dollars a year ago which indicated the fading capacity of export sector.
Exports during the period remained US 13.87 billion dollars which were 13.3 percent less than the corresponding period, he added.
Mian Zahid Hussain said that reasons behind falling exports included energy crisis, increasing cost of doing business, complicated tax and refund procedure and incompetent export managers.
He said that government should promote remittances, appoint commercial and community welfare attaches on merit, boost LNG imports and construction of new terminals, expedite new energy projects and announce trade policy.
He demanded proper export strategy and new professionals capable enough to tackle policy, tariff and other challenges to boost exports and ensure national development.
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