KARACHI, Aug 22: Export Promotion Bureau Chairman Tariq Ikram has said the export target of $40 billion within next five years is easily achievable if an export strategy is prepared targeting for the world market share of five per cent from the present three per cent.
For achieving this target, he said, the export strategy and roadmap had to be made by integrating all stakeholders belonging to the federal and provincial governments, as exports were not the responsibility of one single ministry or the EPB but of the entire nation and this required collective approach.
Speaking at the eighth Export Excellence Award of the Pakistan Readymade Garments Manufacturers and Exporters Association late on Monday evening, Mr Ikram refuted the notion that the textiles and garment sector had lost its importance in the government planning and exports.
On the contrary, he said textiles and garments were still backbone of country’s economy and looking to the developing worldwide scenario on textiles and clothing by the year 2014, the volume would rise to $800 billion from the present level of around $400 billion.
During the last six years, he said country’s textiles and clothing exports registered an 85 per cent growth as against average growth of about 16 per cent per annum in the past. However, Mr Ikram stressed upon the need for introducing technologies and improving upon manpower and manufacturing skills, as all these factors were essential for creating efficiency and containing cost of production.
The only way left for manufacturers and exporters was to contain cost of production through adopting such methods which could improve and enhance efficiency. Mr Ikram said at present 130 countries were producing textiles and clothing but only 30 countries were buyers.
He said there was a need for having a neutral body that could jointly work with all the stakeholders. Once the body is set up, Mr Ikram said, the export strategy with the help of all stakeholders could be made and even a target of $50 billion could be achieved in the next five years.
Citing some examples where there is big scope for exports, he said annually Pakistan lost millions of dollars by not taping tuna fish exports. “Every year in October 60,000 to 100,000 tons of tuna fish travel from Pakistani waters to Iran but we do not explore this source for exports. If properly explored and value-addition was made, this fish could fetch $7 to $10 per lb.
Similarly, he said Pakistan had huge reserves of marble, granite and green onyx but it was only exporting them as raw materials. If required technology and techniques are adopted their annual exports could touch $2 to $4 billion.
Gems and jewels are also being exported as raw material at a through away price. This sector could also fetch billions of dollars, he added.
Chairman Senate Mohammadmian Soomro stressed upon the need to meet the economies of scale and said due to open competition and free market it had become the survival of the fittest.
“We should focus on future challenges and a lot is needed to be done.” He assured the private sector of full government support and said it had the potential to meet the challenges of the open market era.