Sialkot one of the country’s leading export destinations has urged the government to institute a parallel support industry that would provide incentives to investors and businessmen and contribute to the overall improvement in the manufacturing sector of Pakistan.
In a conversation with journalists, Sialkot Chamber of Commerce and Industries (SCCI) President Majid Raza Bhutta stated that the purpose of this support industry would be aimed at assisting the export-oriented industries to decrease their costs hence bringing down the overall import bill of the country. He added that this would bolster the export receipts of Pakistan and also make our products more attractive in the global markets.
Bhutta said the country’s export sector is highly dependent on the import of raw materials from China which has not only contributed to rising business costs but increased the import bill too. He stated that no efforts had ever been undertaken by the government to establish and invest in a support industry, despite the formation of new industries. He also highlighted that current, as well as past governments, had not paid any heed to the suggestions provided by Sialkot’s business community which would have enabled to further improve and diversify the product lines of five key export industries in the city.
He also mentioned that Sialkot had been able to maintain its share of $2b exports and 99pc of the business done in the city is export oriented. He also claimed that no other city in the country is manufacturing export-oriented value-added products through Small and Medium Enterprises. He suggested the government should only enable the provision of friendly policies in order to boost exports.
