Lasbela Chamber of Commerce and Industry President Maqsood Ismail has urged upon the government to announce a trade policy without further delay. Maqsood said that a trade and industrial policy was the need of the hour, which would enable the industrialists and exporters to ascertain the government's priorities and sense of direction.
He said that an inordinate delay in the announcement of industrial and trade policy and export package was creating problems for the country's industrial and export sectors. "Prime Minister Nawaz Sharif promised to announce a Strategic Trade Policy Framework (STPF) but it seems that the policymakers are unable to understand the urgency," he added.
"Delays in taking decisions often cost the people and the economy heavily, as the country's industry is in bad shape and particularly the export-oriented industry is struggling for survival," said former President of the Chamber Yakoob H Karim.
Comparing the country's exports of $24 billion to Bangladesh's $31 billion and Vietnam's $97 billion, he said that the world would not wait for Pakistan to announce its trade policy.
"The foreign buyers have made it clear to us that they would not wait for the announcement of our STPF. We are working in a highly competitive environment and any lethargy would cost us our market share," he added.
He further said that even the textile exporters were not receiving enough orders from their loyal buyers to stay in the competition. He appealed to the Prime Minister to give priority to the industrial sector and rescue the economy.