May 27, 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 has urged of the Government to establish sector-specific autonomous export promotion companies with Private partnership to tackle the issue of falling external trade which has emerged as a threat and to boost trade, he said.
Talking to Prime Minister’s Special Assistant on Revenue, Haroon Akhtar Khan, he said that previously the Export Promotion Bureau (EPB) had the responsibility to look after the Exports and help exporters to increase their market share but it failed to do so.
Subsequently, a new body Trade Development Authority of Pakistan (TDAP) was established in 2006, under a Presidential Ordinance, with the same objective but it could not achieve the intended goals, he added.
Mian Zahid Hussain said that TDAP was not independent and it was marred with corruption, nepotism, mismanagement and malpractices and Exports continued to decline threatening the survival of the country. It was noted that the institution and its resources were mercilessly used to buy political loyalties and the practice continue till the day compromising the National interests.
Therefore, it has become very necessary to establish at least 10 new autonomous sector-specific Companies with Private Partnership for each important National export sector including garments, towel, leather garments, surgical goods, sports goods, carpets, shoes, fruits and vegetables and rice.
Each of the company should be responsible and accountable to market its assigned commodity in the international markets while the Board of Directors of every company may comprise 25 top exporters of the relevant sector, he suggested.
The group of reputable businessmen and government will jointly inject equity in the company of whose CEO and his team must be highly qualified, competent connected and well versed with global trade in the particular sector / commodity.
Every company shall be responsible and accountable for its own branding, value addition, placement, promotion, pricing, packaging, labelling, quality assurance, research, acquiring certifications, standardizations, capacity building and etc. to achieve the assigned export targets.
The financial requirements of these companies should be fulfilled through Export Development Fund (EDF).