BAHAWALPUR, July 19: The president of Bahawalpur Chamber of Commerce and Industry (BCCI) has regretted that the proposals of different chambers and trade bodies have not been included in the new trade policy announced by the commerce minister.

Mahboob Nasir Chaudhry, who is also vice-president of the Punjab Economic Forum, on Wednesday expressed concern over increase in prices of electricity, petroleum products, gas and other essentials and said “our exports were facing tough competition in the international markets due to high prices.”

He said owing to high production cost, Pakistani products were losing foreign markets. He expressed the hope that to make the trade institutions effective and active, the Trade Act of 1961 would be amended.

Mr Chaudhry expressed disappointment that measures had not been taken to promote exports from the backward areas like Bahawalpur. In this context, he referred to the chamber’s proposal to declare Bahawalpur as a livestock export zone keeping in view of the abundance of livestock in this area.

He said this proposal had also been ignored in the new trade policy.

If the recommendations of 57th meeting of the advisory council of the ministry of commerce had been given weight, a much practicable and realistic policy could have been drafted, he added.

However, the BCCI president welcomed the measures announced to overcome problems faced by the industrial sector, setting up of three more expo centers, increase in the Export of horticulture products and the permission for the import of used machinery.

He also hailed the decision to disband the export Promotion Bureau and replace it with Trade Development Authority adding that there was need to increase the capabilities of the institutions as the change in the name would be of no use.