Industry official urges effective export strategy
Blames load-shedding for declining trend of exports
All Pakistan Business Forum (APBF) President Ibrahim Qureshi. PHOTO: APBF
ISLAMABAD:
A National Export Growth Strategy with ownership at the highest level and with full commitment of the government is necessary to reverse the declining trend of exports in the short-run, according to All Pakistan Business Forum (APBF) President Ibrahim Qureshi.
In the long run, the government would need to structurally transform the export sector, Qureshi opined.
“The Strategic Trade Policy Framework 2015-18 has already identified the focus products and focus markets, which can help turn around exports in the short term,” he said, adding that the current export portfolio is marred by a lack of diversification.
He highlighted international image building, strengthening the private sector and transformation and creation of trade bodies as prerequisites for increasing exports, along with recommending a complete overhaul of the Trade Development Authority of Pakistan (TDAP).
While commending the government for the improved security and partially improved energy situation, he urged formulation of policies directed towards increasing competitiveness of Pakistani exports along with bolstering production of high-value agricultural goods.
“The long-term strategy needs structural reforms of the entire export sector by focusing on high tech products, value-added export commodities and market diversification towards unexplored markets such as South America and Africa,” he added.
He also urged the government to take industry stakeholders on board for formulating effective policies and to reduce load-shedding in industrial areas - still lasting for over 10 hours - so that local market and export targets can be met.
Qureshi also urged the development of more technical institutions in the country to cope with increased demand for skilled manpower.
Published in The Express Tribune, June 17th, 2017.
A National Export Growth Strategy with ownership at the highest level and with full commitment of the government is necessary to reverse the declining trend of exports in the short-run, according to All Pakistan Business Forum (APBF) President Ibrahim Qureshi.
In the long run, the government would need to structurally transform the export sector, Qureshi opined.
“The Strategic Trade Policy Framework 2015-18 has already identified the focus products and focus markets, which can help turn around exports in the short term,” he said, adding that the current export portfolio is marred by a lack of diversification.
He highlighted international image building, strengthening the private sector and transformation and creation of trade bodies as prerequisites for increasing exports, along with recommending a complete overhaul of the Trade Development Authority of Pakistan (TDAP).
While commending the government for the improved security and partially improved energy situation, he urged formulation of policies directed towards increasing competitiveness of Pakistani exports along with bolstering production of high-value agricultural goods.
“The long-term strategy needs structural reforms of the entire export sector by focusing on high tech products, value-added export commodities and market diversification towards unexplored markets such as South America and Africa,” he added.
He also urged the government to take industry stakeholders on board for formulating effective policies and to reduce load-shedding in industrial areas - still lasting for over 10 hours - so that local market and export targets can be met.
Qureshi also urged the development of more technical institutions in the country to cope with increased demand for skilled manpower.
Published in The Express Tribune, June 17th, 2017.