TDAP is to submit a comprehensive exports policy
KARACHI: Chief Executive of Trade Development Authority of Pakistan (TDAP) Arif Ahmed Khan has told that a comprehensive export policy would be submitted to government within two weeks while he was speaking to a gathering of Industrialists at Korangi Association of Trade and Industry (KATI) here on Wednesday, says a Press release.
President KATI Sheikh Umer Rehan, Director TDAP and Head of KATI’s standing committee on Exports & Trade Gulzar Feroze, Chairman & CEO KITE Zubair Chhaya, Masood Naqi , Vice President Syed Wajid Hussain and others also spoke to the gathering.
Chief Executive of TDAP Arif Ahmed Khan said that the current government has brought extraordinary reforms to improve economic environment and hopefully these efforts would bring positive results in coming future.
He told that TDAP has deliberated a comprehensive export policy with the consultation of dozens of experts this would be submitted to government within two weeks. The CE said that if the government would be successful to reinstate the confidence of foreign investors, Foreign Direct Investment in country could be raised up to US$ 10 bn. He said that exports should be burden free of taxes.
He said that if the timely reforms would made our exports could increase to double. He said that after depreciation of rupee the competitiveness of our textile sector has improved enormously now we have to work on capacity building.
He said that textile has potential of US$ 21 billion much more than the current volume of 13 to 14 billion dollars. He also mentioned that exports of Rice and leather can be increase up to 2 billion US$ and 1.5 billion US$ respectively with an effective strategy. He said that exports of services sector wasn’t attain required focus.
“We usually discuss the potential of Information Technology sector but without expending its local volume we cannot increase its volume in international marked, for this we have made a suggestion to enable 90 pc of government payments with IT,” he added.
President of KATI Umer Rehan said that unless the basic problems of cost of doing business, industrial infrastructure and wouldn’t resolve and tax regime of country wouldn’t become industry-friendly, increase in exports and economic stability would remain a dream.
He said the authority should sort out why our exports were not increasing than a certain level since years.
Gulzar Feroze mentioned that efforts should be made on war footing to remove apprehensions of EU regarding compliance of GSP Plus standards.
Zubair Chhaya suggested that for export promotion embassies should play an active role.
Former Presidents of KATI Danish Khan, Masood Naqi, Zahid Saeed, Ehtisham Uddin and numbers of industrialists also attended the meeting.