KARACHI, Feb 6: The overall industrial investment in Pakistan stands at Rs940 billion (small to large sized units) in which investment in Sindh enjoys an edge over Punjab with the share of 57 per cent as compared to 34 per cent by Punjab.

This was stated by the chairman, Export Promotion Bureau (EPB), Tariq Ikram while referring to a survey of the Ministry of Industries and Production during a meeting with the members of the SITE Association of Trade and Industry on Thursday.

Quoting the survey, he said investment in Sindh stands at Rs536 billion with only 12 per cent units of the total industrial investments.

On the contrary, Punjab has about a total industrial investment of Rs315 billion with 84 per cent of industrial units. This marked difference in investment between Punjab and Sindh is due to large scale units located in Sindh as compared to Punjab where mostly small units exist.

The EPB chief said that the country would earn over $10 billion export earnings in this fiscal following an increase of $700 million in export earnings during the last six months. There has been an increase of 40 per cent in export of non-traditional items which is 12 per cent of our total exports.

He said two warehouses for local exporters are being set up in Kenya and Poland. A steering committee has also been selected which would identify exporters who can put their goods in the warehouses free of cost for onward sales.

The EPB, he said, has prepared a seven-point export strategy. Under the first strategy, efforts are being made to further enhance the market share of those main traditional products abroad, which already enjoy competitive edge over other countries’ products.

“We have identified IT, fisheries, fruits and vegetables, marble and granites, chemicals, pharmaceuticals, poultry, services, engineering goods and gem and jewellery in which Pakistan could enhance its focus to increase its earnings manifolds,” he said referring to second point.

In the field of goods and services, which the world recognises, can also be helpful where exporters could gain. Under the fourth strategy, the EPB would encourage exporters to foster their efforts further in countries like Iran, Syria, UAE, Jordan, Oman, Kuwait, Saudi Arabia, etc., where they enjoy good relations.

“We are actively focussing on Africa, Central Asian Republics, Eastern Europe and Australia,” he added while pointing out to fifth strategy. Encouragement of women entrepreneurship and enhancing inter-regional trade relations are the other important priorities of the EPB.

He was of the view that the improvement had come on the economic front in the last three years but desired results had yet to come. “Alignment between the government and businesses is essential to further achieve economic goals,” he added.

Tariq Ikram was not satisfied with the homework done by the exporters and businessmen in view of trade liberalization under WTO and TRIPS agreement.

People had been raising voice for industries and its problems but “what the trade bodies and associations have done so far to face the challenges of WTO and TRIPS,” he said adding that “it is now time to think seriously of changing your role and direction and focus on the WTO challenges,” he added.

He said education of your members is more important right now and urged the associations and trade bodies to take up the WTO issue with your members and develop a plan to deal with the open trade scenario. He said that EPB would provide all financial help in arranging foreign lawyers and consultants in this regard.

He said restructuring at top level of the EPB, being carried out with the help of ADB, is aimed at improving the EPB as an effective institution.

The EPB chief said that a total of Rs2 billion has been invested in setting up 29 institutes from the amount of export development surcharge (EDS). Around 800 students pass out every year from these institutes and 94 per cent of them are being inducted in various big industries.

According to an audit, seven institutes out of 29 can be recognized as world class, while eight institutes have the capability to become quality-oriented.

Earlier, the chairman, SITE Association, Haroon Farooqi said that some lacunas and irritants in DTRE scheme like no system of getting duty drawback on local purchase by DTRE unit should be removed besides allowing percentage of some local sales other then wastage. He urged that the export development surcharge and withholding tax should not be levied on DTRE units.

He urged the EPB chief to include the name of their members in the list of Federal Export Promotion Board. Subsidy should also be provided to the exporters for participation in international trade fairs to organize pavilion abroad.

He said an estimated Rs300 billion has been invested in Site area which contributes Rs2 billion daily to national exchequer in various taxes and duties.