The Pakistan Industrial and Traders Association Front (PIAF) has accounted the non-payment of sales tax refund for persistent decline in the country's exports and demanded of the government to take up this issue on priority basis. While talking to Business Recorder, PIAF Chairman Irfan Iqbal Sheikh urged the government to announce a relief package for the export industry so that trade deficit could be curtailed.
"Our exports are on the declining trend for last three years and it will continue if corrective measures are not taken," he said.
He stressed the need for taking the industry representatives on board for evolving an effective and prudent policy to make the country's products competitive in the international market. The government should provide special incentives to the exporters and the industry. The governments of the competitive countries are extending subsidies and discounted tariffs to their export sectors.
"Pakistan is losing its share in the international market to India, Bangladesh, Sri Lanka, and other countries of the region," he added. He was of the view that huge taxes, unnecessary intervention of the government departments, blackmailing of the government officials, unaffordable electricity tariff and power outages are the main factors behind the exports decline.
He asked the provincial and federal governments to adopt rational approach to facilitate the industry and urged the Punjab government to review its decision of conversion of Khana Kachha Industrial area into a housing society. He said a large amount of fertile land around the city is being converted into residential schemes whereas schemes already developed by different developers have not been fully colonised. He asked the government to impose a ban on setting up of new schemes and encourage high rise residential buildings and flats. It would help save the fertile land currently being used for cultivation of crops and vegetables, he maintained.