SITE Association of Industry (SAI) President Ahmed Azeem Alvi has urged the government to take advantage of the situation arising from reports of a potential tariff increase by the US on China, Mexico, Canada and other countries.
He suggested that the government should cooperate with Pakistani exporters by reducing taxes as well as lowering electricity and gas tariffs to drive down industrial production costs. These incentives will encourage and enable exporters to scale up exports to global markets, particularly the US, and compete in price race.
"We must not let this opportunity slip under any circumstances. To boost exports, an effective strategy should be formulated in consultation with stakeholders, benefiting not only large-scale manufacturers but also small and medium-sized enterprises (SMEs)," he said. Alvi called it an excellent opportunity to take benefit from US policies.
"By exporting our high-quality products to America, we can secure a significant market share. However, exporters require cooperation from the federal government and the Pakistani commercial attache in the US, who can assist in securing export orders and ensure the arrangement of B2B (business-to-business) meetings with US traders. This cooperation can lower production costs and improve Pakistan's position in global markets by making it more competitive."
Alvi stressed that the government should provide relief to export industries for at least one year, which could result in a minimum 30% increase in exports. "This will not only bring significant foreign exchange to the country but also promote industries and create employment opportunities for the youth," he added.
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