KARACHI, Dec 10: Chairman, advisory board of Korangi Association of Trade and Industry (KATI), Shaikh Manzar Alam, has urged the government to devise a suitable export strategy in light of the State Bank’s first quarterly report.

In a statement, issued here on Monday, Manzar Alam while appreciating the SBP’s first quarter report 2001-02, said the report fully endorses the apprehensions and fears expressed by the business community that Pakistan’s economy is bound to receive a sever jolt following the September 11 terrorist attacks on the US.

He stressed that to meet the challenges of the time, the economic managers should act quickly for upliftment of export sector.

For this purpose, he suggested that war risk premium imposed by leading insurance companies be eliminated by improving image management of Pakistan.

Pakistan must avail opportunities to actively participate in Afghanistan’s reconstruction plan and get export orders for building material as well as for other goods, including agricultural commodities and services.

Sick manufacturing units must be revived quickly whether possible to create some employment opportunities.

Manzar Alam said privatization process of the state-owned units be expedited, which has been stagnant for long.

The SBP must bring down export finance mark up to 8pc

In view of the global recession, government must take up at least short-term measures to provide concessions and subsidies to reduce input cost to enable Pakistani exporters to compete with India.—APP