KARACHI – The post economic scenario of COVID 19 pandemic would bring numerous challenges which need to be met with resilience, this was stated by leaders and members of UBG on Executive Committee of FPCCI 2021.
They said that the year 2020 witnessed the drastic fall in exports due to COVID but the situation has bit improved in 2021 and our exports stands $ 2 billion per month. While reviewing comparative exports they said Pakistan export is stagnant for the last many years and is lagging behind in the region. Pakistan is lagging behind Bangladesh and Vietnam whose annual export earning is $ 50 billion and $ 100 billion respectively.
They also emphasized on the need to evaluate the performances of commercial counsellors on regular basis.
Fairs and exhibitions are considered modern tools to enhance exports. TDAP should take a lead role with the cooperation of trade bodies in making plans for participation in trade fairs to showcase Pakistani products abroad, they suggested.
It was further suggested by them that Economic Coordination Committee should finalise Strategic Trade Policy Framework 2021-25, Domestic Commerce policy, IT policy and implement the E commerce policy, National Tariff Policy , Export Policy order and import policy order , Geographical indications act which have been approved by the cabinet.
It was also suggested by them that Ministry of commerce should interact with the private sector for PTAs and FTAs , complexity being faced in transit trade , expansion of export of pharmaceuticals, IT, rice, engineering items and halal food products/food processing/certification and exploration of non-traditional items and markets.
SME and cottage sectors need to be encouraged in terms of availability of easy loans and low utilities tariff which will yield economic activities, they said.
