Trade Development Authority of Pakistan (TDAP) Chief Executive SM Muneer on Monday revealed the authority has formed a well designed and well tailored plan to enhance the country’s exports in the quickest way.
He was speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Monday.
LCCI President Ijaz A Mumtaz gave the welcoming address while Senior Vice President Mian Nauman Kabir, former LCCI presidents Iftikhar Ali Malik, Syed Mohsin Raza Bukhari, Mian Misbahur Rehman, former senior vice presidents Sheikh Muhammad Arshad, Mian Tariq Misbah, former Vice President Aftab Ahmed Vohra and Executive Committee members also spoke on the occasion.
The TDAP Chief said that that the authority has worked out a strategy to increase exports as Pakistan has the potential to win the global market.
“Exports would get a jumpstart once issues of energy shortage and stuck-up refunds worth billions of rupees are resolved,” the TDAP chief executive said.
He said that the TDAP has organised around 118 exhibitions in a short span of time while the trade delegations are being supported to the maximum.
Muneer said that presently the TDAP is working on creating awareness among the businessmen about the potential market places in the world.
He said the authority is a facilitator and would extend maximum facilitation to the entrepreneurs who are the torchbearers and need all the encouragement.
He said that the government is quite aware of the issues and challenges being faced by the business community and taking necessary measures to overcome these problems.
To a question, Muneer said that expansion of tax net is need of the hour as it would lead to progress and prosperity
Speaking on the occasion, the LCCI president stressed the need for market and product diversification to give a jumpstart to the declining exports.
Mumtaz suggested that the TDAP should focus on exploring the new markets for Pakistan especially for value added items.
“It is high time to diversify our products and export markets,” he added. About 49% of Pakistan’s exports regularly find their way to just six countries from the last few years, he revealed.
“It is a matter of concern that in 2013, the total worth of our exports was dollar 25.1 billion but in 2014 it went down to dollar 24.7 billion. Unlike Pakistan, the regional countries like Bangladesh and Sri Lanka have otherwise excelled in exports,” the LCCI president added.
He said that there is something wrong in our case as Bangladesh has left us far behind in terms of exports earnings.
“In 2008, the worth of Pakistan’s exports was 25% more than that of Bangladesh but now scenario has been totally reversed,” he added.
He said that these figures imply that our efforts are only meant to maintain the current level of exports rather targeting to excel like our neighbouring countries.