LAHORE
Minister of State for Commerce Muhammad Pervaiz Malik on Saturday said that with the active participation of the private sector and leading exporters, all out efforts will be made on a priority basis to achieve the realistic exports target of $ 35 billion by 2018.
The minister was talking to SAARC Chamber Vice President, United Business Group (UBG) Chairman and veteran trade leader Iftikhar Ali Malik here.
Pervaiz Malik assured UBG chairman that his ministry would enhance cooperation with Federation of Pakistan Chamber of Commerce and its affiliated chambers, trade associations and UBG to address impediments to trade and infrastructure gaps which adversely affect exports.
Iftikhar Ali Malik, while welcoming the appointment of Pervaiz Malik as minister for commerce, said he will 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.
He informed the minister of those exporters demanding 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.
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.
“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 added.
“A rise in exports will help the government boost its revenues and invest in the development of the country,” he said. Adding to that, he said that unfortunately, Pakistan’s exports are stagnant whereas other regional countries have moved far ahead.
“Providing subsidy to different sectors of the economy needs resources, and resources are generated by the robust economic activity,” he said, adding that subsidy or relief packages if opted as a policy measure, must produce economic returns to boost investment and business activity.
Pervaiz, 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 the development of infrastructure in the form of motorways and up-gradation of Gwadar port, would open new avenues of economic activities which can be capitalised by Pakistan’s business community, he added.
Pervaiz Malik said that it would be his endeavour to improve businesses viability and profitability which would certainly lead to growth in exports and investment.
He said that all stakeholders will be taken into confidence prior to finalisation of the trade policy in future and viable suggestions and proposals of the business community will also be incorporated.
