Sustainable economic growth needs $150 export in next 10 years’

KARACHI, March 18: Federation of Pakistan Chambers of Commerce and Industries (FPCCI) Standing Committee former Chairman Ahmad Jawad has said that the
country needed $150 billion exports in the next 10 years from present $25 billion for sustainable economic growth.
Jawad said it is unfortunate that the Commerce Ministry has failed to introduce the much delayed strategic trade policy framework (STPF), which could devise a strategy to enhance exports and curtail imports, as the previous policy expired on June 2015. “The Commerce Ministry should adopt measures to give a quantum jump to declining exports,” he said, according to a press release issued here on Friday.
“I think federal budget, trade policy and Vision 2025 have no connectivity and commonalities to boost exports. At the same time, the government has withheld billions of refunds, duty drawback and other payments that are not only hurting the exporters but also the small and medium enterprises,” he added.
He suggested CEO TDAP must formulate a comprehensive business plan to curtail the ongoing situation in exports and leaving other things set aside. At this time there is a crucial need of a comprehensive public-private dialogue between the government and the private sector.
Jawad who is also horticulture expert also mentioned that even due to past policies, the country’s horticulture exports were on the verge of destruction and if the government did not announce any incentives for this sector, in the long awaited trade policy then ultimately it would begin protests.
He said the government must give push to the horticulture sector to support the country’s declining exports. “As Pakistan has an immense potential, horticulture exports could grow to iconic proportions and touch as high as $7 billion in the next coming years if Research and Development (R&D) is vigorously pursued and required infrastructure is established”. He further said that our neighbor country India achieved $ 15.4 billion only against their agriculture exports for the period of 2015 and their total export target is more than $ 300 billion.-Online