‘Govt taking measures to boost exports’

Published December 21, 2019
The government is working on multiple fronts to enter into new markets in order to boost exports, said Commerce Secretary Nawaz Sukhera on Friday. — Photo courtesy Ahmad Nawaz Sukhera Twitter
The government is working on multiple fronts to enter into new markets in order to boost exports, said Commerce Secretary Nawaz Sukhera on Friday. — Photo courtesy Ahmad Nawaz Sukhera Twitter

KARACHI: The government is working on multiple fronts to enter into new markets in order to boost exports, said Commerce Secretary Nawaz Sukhera on Friday.

Addressing a gathering of value-added textile leaders at the Pakistan Hosiery Manufacturers Association, he said the Ministry of Commerce is planning to hold a conference in Nairobi, Kenya on Jan 30 under its ‘Look Africa’ policy.

He said the conference will interlink relevant government departments engaged in export facilitation such as State Bank of Pakistan, Ministry of Maritime Affairs, Board of Investment and commerce ministry on a single stage.

Sukhera further said that around 300 importers of Pakistani goods from across Africa were also being invited. He said the government strongly feels that with robust growth of around 7-8 per cent, Africa is a lucrative export market for Pakistani goods.

Similarly, he also pointed out that the recent visit by Russian trade minister to Pakistan has also paved way for increasing bilateral trade between the two countries.

He explained that the biggest barrier to trade between Moscow and Islamabad was the outstanding barter trade fund of $93.5 million due for the last 30 years. However, he said that Pakistan has now paid the amount which helped rekindle the trade relations.

He added that there are many export markets other than GSP+ therefore Russia, Africa and China are three major new openings.

Unlike in past, when China negotiated with Pakistan over Free Trade Agreement (FTA) at equal level, the new FTA has opened up a large tariff line of 313 items only because Beijing this time treated Pakistan as younger brother, Sukhera claimed. He urged exporters to take full advantage of the new FTA.

He also informed the delegation that government was working on potential collaboration opportunities with the Milan Chamber of Commerce. He said that in a road show, we suggested the Milanese authorities to collaborate with Pakistan and take advantage of the country’s textile sector.

Responding to some of the issues raised by the leaders of the textile bodies, Sukhera said that commerce ministry and the Federal Board of Revenue were working on duty structures.

He agreed that there should be no duty on import of basic raw materials but due to some financial constraints, the government was left with no choice but to maintain status quo. Textile leaders also raised other issues including sales tax refunds, gas shortage, water crisis, and Karachi port’s direct connectivity to country’s highways, effluent treatment plants and enhancing or reviving cotton production on evolving new seeds.

The representatives were of the view that issues confronting export trade are directly related to world compliances and if the federal government fails in removing these bottlenecks, it will not be able to reach world markets.

There was strong demand from business leaders that the federal government should take ownership of big projects such as the K-IV water supply, completion of Northern and Southern Bypass up to port entry etc instead of giving funds to provincial government.

Published in Dawn, December 21st, 2019

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Spy games
Updated 02 Oct, 2022

Spy games

The audios leaked so far appear to have been carefully curated: they apply pressure but do not do major damage.
‘Geopolitical football’
02 Oct, 2022

‘Geopolitical football’

THE US-China rivalry is by all measures one of the globe’s most dangerous competitions for power and influence. ...
Fuel price reduction
02 Oct, 2022

Fuel price reduction

ISHAQ Dar is back; so are his signature policies. The reduction of a little over 5pc in fuel prices announced by him...
Untruths and politics
Updated 01 Oct, 2022

Untruths and politics

It would arguably be in the national interest for the Supreme Court to take up the cipher and settle the matter.
Farmers’ protest
01 Oct, 2022

Farmers’ protest

SEVERAL hundred farmers have converged on Islamabad for the last three days to protest against the soaring costs of...
Dasht-i-Barchi bombing
01 Oct, 2022

Dasht-i-Barchi bombing

ON Friday morning, Kabul’s Dasht-i-Barchi neighbourhood was rocked by a terrorist attack targeting an educational...