Pakistan’s exports shrunk by five billion in three years. Export sector should be helped to overcome problems.


November 18, 2016

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday said exports contracted by five billion from 25 billion dollars to 20 billion dollars in three years due to incompetency of export managers which are actively involved in trade politics instead of doing efforts to increase exports.

During these three years exports of rival countries including Bangladesh, India and Vietnam increased substantially which proves weaknesses in our policies and effectiveness of the initiatives of opponents, he said.

Mian Zahid Hussain said that Prime Minister Nawaz Sharif is concerned about falling exports which is a positive sign as he wants to revive this sector but some elements are hindering it.

He said that Textile Policy envisioned relief of Rs 185 billion for the textile industry which was not properly implemented resulted in frustration among exporters.

Exports industry is facing issues like energy crisis, incoherent taxation, non-payment of refunds and increasing cost of doing business which has damaged it. Pakistani products continue to retreat in the international market while rivals are grabbing our share which is annoying, he said.

He said that energy crisis is one of the biggest problem which has kept industry from expansion. The onset of winter will result in closure of industry in Punjab which will hit production, taxation, exports and jobs.

Mian Zahid Hussain said that government is trying to overcome gas shortages with import of LNG but it has not taken serious action against theft, wastage and mismanagement in the gas utilities which has exuberated the already precarious situation.

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