ICCI urges focusing on exports
Government should reduce reliance on local and foreign loans, advises ICCI President.
Government should reduce reliance on local and foreign loans, advises ICCI President. PHOTO: FILE
ISLAMABAD:
The Islamabad Chamber of Commerce and Industry (ICC) called on the government to focus on promoting exports to attain self-sufficiency and reduce dependence on local and foreign loans, as the cost of debt servicing continues to climb and eat a major chunk of revenue from taxes. Debt servicing represented 30.4% of tax revenue during the last year, ICCI President Sheikh Amir Waheed said. He added that the $35-billion export target set by the government in the Strategic Trade Policy Framework (STPF) 2015-18 by June 30, 2018 would be hard to reach considering the current trend of exports.
Published in The Express Tribune, January 30th, 2018.
The Islamabad Chamber of Commerce and Industry (ICC) called on the government to focus on promoting exports to attain self-sufficiency and reduce dependence on local and foreign loans, as the cost of debt servicing continues to climb and eat a major chunk of revenue from taxes. Debt servicing represented 30.4% of tax revenue during the last year, ICCI President Sheikh Amir Waheed said. He added that the $35-billion export target set by the government in the Strategic Trade Policy Framework (STPF) 2015-18 by June 30, 2018 would be hard to reach considering the current trend of exports.
Published in The Express Tribune, January 30th, 2018.