Business group lays out 12-point export strategy

Asks govt to develop long-term plan to ensure consistency of policies

LAHORE:

A businessmen group has demanded that the government develop a long-term export strategy by ensuring consistency of policies.

In a letter written to Prime Minister Shehbaz Sharif, Pakistan Business Forum (PBF) President Khawaja Mehboobur Rehman sought the premier's attention to a crucial matter that was affecting economic growth and prosperity.

The letter stated that the government should develop a long-term strategy to ensure continuity of policies beyond election cycles, endorsed by parliament, to ramp up exports. It would also foster stability and confidence among businesses, investors and trade partners.

The parliament's stamp of approval would demonstrate a unified commitment to export-led growth and encourage collaboration between the government, industry and stakeholders, it said.

The PBF laid out a 12-point export strategy by identifying high-potential sectors, enhancing trade facilitation and infrastructure development, improving competitiveness through incentives and support, and strengthening trade agreements and economic diplomacy along with accountability for every export incentive.

"A national policy for exports, owned and monitored by the prime minister, deserves priority. This policy may shift mindset from 'control' to 'empower'," the PBF remarked.

The forum emphasised that the long-term policy, which would bring all stakeholders on a common platform, needed to facilitate planning and promote investment to build scale and improve competitiveness.

Similarly, all exporters should have been provided energy at a cost which is globally competitive. This will help broaden the export basket. It suggested that where industries were producing a mix of products for both exports and domestic markets, the incentive of rebate should be offered on the quantity exported to keep the input cost of energy at globally competitive levels.

In the letter, the PBF president underscored the importance of Trade Dispute Resolution Organisation (TDRO) under the Ministry of Commerce which, it said, had not provided any assistance to exporters and importers facing disputes with international partners, despite the passage of several years since its inception.