March 24, 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 Thursday said new trade policy is based on desires and assumptions.
Export target of 35 billion dollars is contrary to ground realities as Pakistan’s share in external trade is not increasing but decreasing since some years, he said.
The trade policy has set an ambitious target for exports but there is no clear roadmap for achieving the target in the statement, he said adding that the target will be revised downward as it is beyond the capacity of dysfunctional institutions.
Mian Zahid Hussain said that development has nothing to do with flowery statements as it require tough decisions, long term planning and enabling policies which should be initiated with restructuring of TDAP.
He said that export target will remain unachievable unless energy crisis is settled, taxation is made easy, and refunds are released.
Mian Zahid Hussain lauded the effort of the government to prefer value-addition, research, branding, and innovation which can pay dividends.
He said that some import items including edibles would become cheaper which will benefit masses but will put pressure on forex reserves.
He lauded the decision to increase trade within the region and asked the authorities to stop mixing trade with politics.
He said that bilateral trade is to get boost with the arrival of Iranian president which can also be a game changer.
Relaxations to businessmen, traders, industrialists and planters are good decisions provided these are implemented in letter and spirit, he said, adding that government should strive to ensure balance between imports and exports without which country will remain dependent of loans and grants.
