LAHORE, July 19: Naib amir of Jamaat-i-Islami and leader of Independent Opposition Group, Senator Prof Khurshid Ahmed, has said that the new trade policy lacked strategic policy framework to restrict imports and substantially boost the exports.

Commenting on the trade policy in a statement issued here on Saturday, he said without a complimentary industrial policy and agricultural programme it was not more than a wish list. The policy was disappointing as it showed obsession with certain micro-details without a well thought out macro-framework.

The current trade deficit of $20.7 billion was more than total exports of $19.22 billion. Opening flood gate of imports of around 136 items from India may lead to further increase in import bill and trade deficit.

He said industrial and trade communities were worried because no integrated incentives package had been given for the textile industry which was still contributing about 60 per cent exports.

Even the research and development fund was more favorable to India than Pakistan. More worrying was the policy of importing more than 10-year-old used automobiles and machinery which would turn the country into a junkyard instead of providing any quality edge to exports.

He said the establishment of Hall Authority and 11 new industrial clusters were positive steps but the policy failed to count on an integrated and well thought out strategy to reduce imports and increase exports.