“Pakistan seeks to promote exports rather than domestic trade”

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KARACHI:


Pakistan is eager to promote exports rather than domestic trade as things are now moving in the right direction, said Abdul Razak Dawood, Prime Minister’s adviser for trade, investment, industries and production and textiles .

Speaking to businessmen at Karachi Chamber of Commerce and Industry (KCCI) on Monday, he said we need to go beyond the five export-oriented sectors to boost exports.

The adviser dismissed the impression that exporters were not receiving tax refunds, saying the government had disbursed Rs 17.5 billion in refunds and would provide further refunds to sectors other than textiles during the month. In progress.

Speaking of diversification, he said meat and poultry exports jumped 54%. The adviser revealed that, according to the data, meat and poultry items were exported to Saudi Arabia and the United Arab Emirates. In contrast, around 60 tonnes of seafood was exported to China, which jumped by around 34%.

He reiterated that the growth of the SME sector was the top priority of the government and that there was a great need to support its growth.

He said it was our policy to avoid duties on exports, and in this regard, the department was working on a plan with the Federal Board of Revenue.

He said that if India grants duty drawbacks on 1,000 items, we must also increase our number of goods.

Responding to concerns about high tariffs and gas shortage, he said, “You all know what the economic situation of the country was; we were losing $ 2 billion, but the situation has changed now.

He said the economic situation is not as bad as it is claimed and assured businessmen that the country is now on the path to stability.

“Our external position is stable [now], we even recorded a current account surplus, ”added Dawood.

The adviser said the new tariff has been set and will now be part of the industrial process under the Ministry of Commerce. He added that 26 new areas had been planned and were nearing completion.

He indicated that a rationalization policy was underway and would be finalized soon.

Also speaking on the occasion, KCCI Chairman Agha Shahab Ahmed Khan said doing business had become extremely difficult due to high electricity tariffs, exorbitant interest rates and high electricity prices. fuel, among other problems. He urged the government to tackle these issues so that industries can develop, otherwise economic performance will continue to decline.

He said the tough measures taken by the government to deal with the trade deficit had hurt industries.

(with additional APP input)

Posted in The Express Tribune, January 12e, 2020.

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