The country’s total exports declined by 14.37 per cent to $12.087 billion in the first seven months of the current fiscal year (July-Jan) 2015-16 from $14.115 billion during the same period last year.
Seven months have passed of the current fiscal year but the government is yet to release the trade policy and the new auto policy, said a member of the Karachi Chamber of Commerce and Industry (KCCI).
He said the federal government or the Trade Development Authority of Pakistan (TDAP) is doing nothing for the exporters as factories in Punjab and Sindh are still waiting for supply of electricity despite the declining furnace oil prices in the international and local markets.
“The government will soon announce the trade police as it is before the prime minister for final approval,” said an official of TDAP. He said the Trade Ministry had already finalised the country’s trade policy with several incentives for exporters specially for the textile sector.
Hadi Sallahuddin of Messe Frankfurt said the exporters are displaying their products in various exhibitions throughout the world, especially in Germany and they are getting orders from the international markets. He said the main reason of declining exports of the country is trade recession in the world market because of the dollar’s strong value.
Analysts of different brokerage houses said the exporters are waiting for incentives to be announced in the trade policy by the government.