Lahore: All Pakistan Business Forum on Friday requested the government to take measures which would help in reducing imports into Pakistan and maximizing exports, which would curb the widening trade deficit.
Exporters must be extended attractive incentives, tax benefits and preferential treatment said APBF. It said the biggest challenge facing the industry was the power crisis, which needs to be resolved at the earliest to enable the maximization of productivity in the industrial sector.
APBF President Ibrahim Qureshi said, “Pakistan has a great opportunity to increase its share in global trade through fresh economic activities generated by the China-Pakistan Economic Corridor, regional trade arrangements and the Strategic Trade Policy Framework.”
APBF in its statement said that economic progress can only be ensured by improving the law and order situation and finishing terrorism. It recommended that the govt needs to indulge in trade diplomacy and conduct trade exhibitions for the development of the country’s export sector over the next three years.
According to Qureshi, it was critical for the government to undertake measures that reduce doing the cost of doing business, a business-friendly environment needs to be promoted which would stimulate investor interest.
He added that the govt needed to make efforts in providing easy market access and increase competitiveness by imparting professional training and reducing cost of industrial inputs.
The government also needs to explore more international markets for exploiting and looking for trade opportunities in East Asian and African regions. Also, Pakistan needs to sign preferential trade agreements with developed nations for maximizing valued-added exports.
