FPCCI lauds trade policy, demands timely refunds
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has termed trade policy encouraging in the prevailing circumstances and assured support of the government to help achieve export target of 35 billion dollars up to 2018. In a statement issued here today, the President FPCCI Abdul Rauf Alam said that export target can be achieved if refunds to the tune of 210 billion rupees are released, tax system is simplified and uninterrupted supply of electricity and gas is ensured.
He said that problems of export sector should be resolved so that their cost of doing business can come down to make their products competitive in the international market. Moreover, he said that Pakistan should explore new markets with special focus in Iran and Afghanistan as Pakistan can export rice, beef and other things worth one billion dollars while exports to Afghanistan can be increased by fifty percent. Rauf Alam said that Value addition should be preferred over export of raw material while innovation and research should be focused. He also called upon improvement in infrastructure, skill development, labour productivity usage of technology coupled with market research as diversification and sophistication of exports will pay dividends.
Meanwhile, Secretary General of United Business Group Zubair Tufail lauded the government's move to provide Rs20 billion to exporters over a period of three years. He said that payment of Rs6 billion should be initiated immediately as only three months have been left in the current fiscal year. He also demanded attention to dispute resolution, intellectual property rights and improved tax and industrial policies which will attract investment.
The business leader lauded the move to establish export development councils, explore regional markets, and revive dormant trade agreements with various countries for which transport infrastructure and security remain challenges.
Tufail also lauded decision of the government to support SME sector which was longstanding demand of the business community while decision to contain wastage of agricultural produce and enhancing the income of farmers will go a long way to improve agricultural sector.