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INCREASING EXPORTS: ‘MORE NEEDS TO BE DONE THAN JUST THE RS180B PACKAGE’
9/23/2017

DAILY EXPRESS TRIBUNE (23/09/2017)

INCREASING EXPORTS: ‘MORE NEEDS TO BE DONE THAN JUST THE RS180B PACKAGE’

LAHORE: Considering current circumstances, an increase in exports is a must, but it is not possible even with the Rs180-billion package, said Punjab Finance Minister Dr Ayesha Ghaus Pasha.

“The federal government needs to improve its export mechanism, reconsider its policies and reduce the cost of production,” said Pasha as she addressed a gathering at the Lahore Chamber of Commerce and Industry (LCCI) 2nd Export Trophy.

She stressed that even when signing free trade agreements with Turkey and China, the government needs to maintain a balance in exports and imports so that local businesses can flourish.

“Even though exports are a subject of the federal government, Punjab is doing a lot in this regard.”

The minister said that Punjab has taken a major initiative to increase power generation and major developments have been made to reduce the cost of doing business while the business community is being taken on board on trade and industry-related issues.

“We have to learn from those countries that are enhancing their exports speedily,” Pasha suggested, adding that the federal government and LCCI should sit together to resolve the issues of refunds and rebate.

Also speaking on the occasion, LCCI President Abdul Basit highlighted the aims and objectives of the trophy awarding ceremony. He said that the business community deserves appreciation as they are doing well despite unfavourable circumstances.

“They are competing with their rivals in the international market despite facing challenges like high cost of doing business etc.”

He was of the view that government’s facilitation can enable the businessmen to win huge part of the global market.

Sharing his opinion, Basit said that the government had set the export target at $35 billion by end of 2018, which was impossible to achieve.

He further said that the government should give zero-rated facility to the food sector so that it can get its due share in the international halal food trade.

He said that Pakistan can also obtain huge benefits by promoting export of basmati rice, fisheries, cement, marble, pharmaceutical and light engineering.

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