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Pak exports didn't dwindle overnight, says PEW
17
Aug '15
The Pakistan Economy Watch (PEW) has said that the country's exports have not dwindled overnight and expanded the trade gap.

Favouritism, appointments in violation of merit and misuse of export incentives are to blame for the situation. It said the situation will not change unless appointments are made strictly on merit, outdated elements are removed and those behind declining export should be held responsible, Dr Murtaza Mughal, PEW president said in a statement.

He said that increased cost of doing business, energy crisis and non-payment of refunds by the FBR has also played a role in hurting exports. Policymakers are too much focused on textile sector for exports while other sectors and textile value addition have been put on the backburner which is limiting Pakistan's capability to benefit from GSP plus status.

Dr Mughal said Pakistan's textile sector is focused on European market only; they should also try to explore other markets and alter their strategy according to changing scenario.

He asked the government to focus on exports to increase income and avoid indirect taxation, unprecedented taxes on imported fuel, privatization, and loans and grants to change the dismal situation. (SH)

Fibre2Fashion News Desk – India

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