Minister of Commerce Pervaiz Malik on Saturday expressed resolve to achieve the export's target of USD 35 billion by 2018 with the active participation of private sector and leading exporters. The minister was talking to Vice President SAARC Chamber Chairman United Business Group (UBG) Iftikhar Ali Malik. He assured the UBG Chairman that his ministry would enhance co-operation with the Federation of Pakistan Chamber of Commerce its affiliated chambers and trade associations to address impediments to trade and infrastructure gaps which adversely affect exports.
The minister after hearing suggestions advised the business community to conceive forward planning in view of the prospects arising out of the mega regional development initiatives like China-Pakistan Economic Corridor and Turkmenistan-Afghanistan-Pakistan-India Pipeline. These mega projects, coupled with development of infrastructure in the form of motorways and upgradation of Gwadar port, would open new avenues of economic activities which can be capitalized by Pakistan's business community, he added.
Pervaiz Malik said that it would be his endeavor to improve businesses viability and profitability which would certainly lead to growth in exports and investment. All stakeholders will be taken into confidence prior to finalization of the trade policy in future and viable suggestions and proposals of the business community will also be incorporated, he added
Iftikhar Ali Malik, welcoming the appointment of Pervaiz Malik as commerce minister said that he would play a vital role in bringing reforms for boosting trade, to turn the country's exports around and attract new investment through improving business viability in the country. He also assured the Minister of full cooperation on behalf of the business community in executing all positive steps of the government for promoting trade.
The exporters want the government to clear their refunds on exigent basis, devise a mechanism to avoid their delayed payments and allow the rupee to come to a realistic market value, he said. The textile sector, among other things, is seeking removal of extra taxes, competitive energy prices as compared to the region, electricity at nine US cents per unit and imposition of duties on semi-finished textile products, especially from India and China, he added.
"The export target can only be achieved if exporters are refunded Rs 300 billion. These deposits were made by Pakistani exporters to ensure that they repatriate to Pakistan all their export earnings," he said and added "A rise in exports will help the government boost its revenues and invest in the development of the country." He said, unfortunately, Pakistan's exports are stagnant whereas other regional countries have moved far ahead.