KARACHI, March 27: The chairman, Export Promotion Bureau (EPB), Tariq Ikram, on Thursday said the impact of Iraq war was minimal on the economy so far, however, it was likely to increase in future.

However, he said Pakistan can help Iraq in its rebuilding and rehabilitation pursuits after the war is over. “We can help in oil and gas and Railways sectors,” he added.

Talking to members of Karachi Chamber of Commerce and Industry (KCCI), he said the exports were rising and had registered an increase of 19 per cent during the first six months of the current fiscal as compared to the same period last year. The EPB and concerned ministries were still working out a plan to further improve the export sector, he added.

He said unfortunately, the international geo-political situation was not favourable and one after the other, serious issues were coming up, which were the biggest hurdle in speedier promotion of exports.

He said the war risk premium was only imposed on Gulf states which was justified. He said about exports to Iraq prior to war, the ships remained safe as they had taken refuge at Jabl-e-Ali.

He said the EPB had launched a scheme of setting up warehouses in other countries for Pakistani exporters so that the threat of decrease in exports owing to war conditions and hindrances in the frequent visits of international buyers could be overcome. Africa and Eastern Europe had been focussed in this regard in the first phase.

Tariq asked the chamber to come forward to help the exporters and traders in improvement of their prospects and supplement government efforts to enhance the export of non-traditional items.

He said the government was making serious efforts to help the smaller exporters as well as the exporters of non-traditional items. The freight charges for non-traditional items had been lowered by 25 per cent to encourage their exports, he informed. The government had already paid Rs80 million as rebate to such exporters, he added.—APP