‘New trade policy should give fresh impetus to business’

Govt asked to pay attention to domestic trade as well.

FAISALABAD: Businessmen have suggested that the new trade policy should contain measures that can give a fresh impetus to trade and business in the country, at a time when a host of challenges are slowing down the growth of the industry.

Faisalabad Chamber of Commerce and Industry President Zahid Aslam, while talking to the media here on Wednesday, said the challenges and crisis confronting trade and business not only slowed down the pace of progress of the national economy but also caused unemployment and dissatisfaction among the workforce.

“The volume of business and trade has plunged and it has become difficult for traders to keep themselves afloat,” he said.

Aslam pointed out that the trade and business, which contributed substantially to economic improvement and productivity growth, were unable to keep sufficient stock due to uncertainty and lack of clear policies. This, he added, made it imperative that traders and businesses should be given priority and importance in the trade policy. “Impetus to domestic trade will automatically accelerate exports from the country.”

In the past, the domestic side of the trade policy had not been given due importance, leading to creation of a gap between internal and external trade, he said and stressed the need for a paradigm shift in formulation of the trade policy.

Published in The Express Tribune, October 11^th, 2012.