Country's economy cannot come out of the woods in the absence of increased exports, investments and domestic savings. That is why perhaps prime minister Imran Khan has been laying a lot of emphasis on higher exports. Moreover, he appears to be mindful of the fact that the goods produced in Pakistan are not competitive in global or even regional markets. Speaking to a delegation of the Federation of Pakistan Chambers and Industry (FPCCI) led by its president Mian Anjum Nisar the other day, prime minister Imran Khan directed the Federal Board of Revenue (FBR) to work out some mechanism for future adjustment of sales tax refunds of business community in cases where FBR is unable to clear past liabilities. The prime minister assured the delegation that the government is striving to make Pakistani goods competitive in the international markets against the goods of other countries, particularly those produced by the regional countries. He added that despite a challenging economic situation, the government has ensured supply of gas and electricity to the industry so that the production is not affected.
No doubt, ball's in industrialists' court now. It's their responsibility now to work harder towards achieving higher export growth targets.
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