President Sialkot Chamber of Commerce and Industry (SCCI) Majid Raza Bhutta has said that inordinate delay in payment of duty drawback claims, sales tax refunds and income tax has created immense financial crunch for the industry with the passage of time which resulted in severe liquidity and cash flow problems for the exporters of Sialkot.
Under the prevailing circumstances there was a great need of early clearance of the claims to facilitate the local exporter community, he added. Talking to Business Recorder on Friday he said that SCCI making all-out efforts to overcome the threats posing by the tanneries functioning in and around the city. In order to cope with the pollution Sialkot Tanneries Zone was being established with active support of the Punjab government, he said.
He further said that efforts were being made for early completion of the biggest tanneries of Asia adding that development on this mega project is in full swing.
He said the federal government had approved a grant of Rs 400 million out of Export Development Fund (EDF) for the construction of Combined Effluent Treatment Plant (CETP) in Sialkot Tanneries Zone.
SCCI chief said that keeping in view fast changing business trends globally a new concept of "Shared Showrooms" has been introduced in various countries. He suggested that shared showrooms and display centres in potential markets should also be set up for providing opportunities to the exporters to showcase their products with proper marketing facilities.
The shared showrooms offer solution to the issue of high cost of maintaining and individual showroom in a foreign country and difficult to administering it from another country, he said. Majid said that shared showrooms is the cheapest way to always have samples available for the demonstration in another country with the facility of trained staff to market the products to the buyers visiting facility.
He was of the opinion that such marketing strategy will an opportunity to Pakistan to step ahead of its competitors and take "Made in Pakistan" branding to another level and ensure increase exports. For development of export sector and to turn around the declining trend of export it is imperative for the government to devise a sound sector specific strategy and a vision with defined objectives, he said.
In order to achieve the positive results it is important that high priority sectors and potential sectors should also be identified depending on level of production and supply, potential contribution to exports, demand in international market and capacity to contribute towards the economic development of the country, he pointed out.
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