The Pakistan Business
Council says stock
market could
potentially become
a major route for
laundering of black
money.
PBC CEO Ehsan A Malik termed the package a ‘first aid’ for the struggling export sector.
“First aid is how it should be seen as there remain fundamental challenges confronting exports and manufacturing that still need to be addressed.”
“There is a finite value limit of Rs180 billion. The recent experience of the fertiliser subsidy, which ran out of funds just six months from inception, should serve as a warning,” said Malik.
Pakistan needs to focus on value-added exports to generate jobs and higher export earnings.
Nevertheless, the package will give some respite to exporters. “It is, however, important to ensure that it is implemented in a transparent manner, that rebates are paid promptly and that the remaining arrears of sales tax refunds are cleared and not forgotten,” he added.
Published in The Express Tribune, January 13th, 2017.
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