Trade Development Authority of Pakistan (TDAP) Chief Executive SM Muneer has said that sit-in in Islamabad inflicted colossal loss to national economy and TDAP has to postpone a mega event of Expo Pakistan scheduled to be held on October 22, 2014.
Addressing a big gathering of business community in FCCI (Faisalabad Chamber of Commerce and Industry) auditorium on Thursday, he said the business community had shown unmatched commitment to the country and nation by paying their taxes and duties despite political uncertainty and dwindling exports. He said 1,100 foreign buyers from 65 countries were expected to attend the Expo Pakistan that had been postponed on the request of ambassadors from these countries.
Underlining the importance of regional trade, he said TDAP organised Lifestyle exhibition in Mumbai which was proved a total success. He said despite the cold shoulder by Indian government it attracted a big crowd and encouraged them to organise yet another six single country exhibitions. Out of these, one would be organised in India, another in the UK and one in Saudi Arabia.
He asked the exporters of Faisalabad to participate in these exhibitions for the promotion of their exports. He also quoted his recent meeting with first secretary of Vietnam and said that this country with a population of 9 million had exports to the tune of 150 billion US dollars whereas Pakistan with 200 million population was earning only 25 billion US dollars from its exports.
He said they must take pragmatic steps to exploit their export potential with a commitment to the nation and country. He was critical of some discouraging factors including energy crisis and delay in refund of claims to the exporters. He said their 19 billion rupees from EDF were lying with ministry of finance. “We have been making repeated requests for the release of this amount that would enable us to support exporters to overcome their liquidity problems.”
Responding to the demands of FCCI, he fully endorsed the demand for the establishment of Expo center at Faisalabad and asked the FCCI to submit a formal request so that it could be processed on fast track basis. He further said the board meetings of EDF and TDAP were scheduled to be held during next year and they would try their best to give due representation to FCCI in these committees. He appreciated the organisation of trade delegation by the FCCI and said that he would try to compensate these delegations by extending necessary subsidy or financial support.
He further said TDAP had already organised a seminar on GSP-Plus at Karachi and similar seminar would be organised at Faisalabad for the benefit of local exporters.
Regarding FPCCI, SM Muneer said this important organisation had lost its efficacy due to the incompetent leadership.
“We would try our best to revive its dynamism by electing honest and competent office-bearers through a democratic process,” he added. He said 95 per cent business community was with them and they would make a clean sweep in the upcoming elections of FPCCI.
He further said a meeting of the managing committee of FPCCI was scheduled to be held on October 10. He said the business community should fully participate in it so that an effective election commission could be formed to conduct the elections in an honest, free and fair manner.
Earlier, a leading industrialist of Faisalabad Mian Muhammad Idrees, Iftikhar Ali Malik, vice chairman SAARC chamber of commerce and industry, and Engineer Rizwan Ashraf, president FCCI, also addressed the function. Rizwan Ashraf in his welcome address explained in detail the problems confronted by the business community.
He also dwelt at length the issues related to export diversification, regional trade, foreign direct investment, sustained economic policies, refund claims, expo center, FCCI representation in various boards and committee, representation in trade delegations, signing of PTA and FTA, single country exhibition, economic diplomacy, awareness seminar of GSP Plus and said that export potential of textile sector was 26 billion dollars but they were still dwindling at 13 billion dollars.
He also mentioned the figures of the statistical bureau of Pakistan and said that export of raw cotton had increased by 40 per cent whereas the export of value added textile products had declined alarmingly due to energy crisis and other problems.
He said India immediately increased subsidy for its textile sector as the EU granted GSP Plus status to Pakistan. He lamented that contrary to this strategy, the electricity tariffs were being repeatedly increased in Pakistan making their exportable surplus uncompetitive. Later, the guests and hosts exchanged shields while MR S M Muneer also presented gift of books to Rizwan Ashraf.
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