The time is running out very fast whereas we are working on slow pace on the growth of our Manufacturing Industry “Made in Pakistan”. It appears we are very far in establishing our Brands Internationally except for few. It is high time the un seriousness should be complemented with seriousness said ateeq ur rahman (economic & financial analyst).
Evidently, to facilitate our manufacturing activities, we have to promote competition in this sector by growing the potentials whether skilled or un skilled.
Government needs to allow Imports by reducing Tariff and non Tariff Barrier, specially on the raw material, plant and machinery, processing units, pre-engineered goods, spare parts of various manufacturing units or accessories, necessary components of motorcycle, etc said ateeq.
The Exports items like Textile , Sports Goods , Carpets , Leather Goods, Food , Rice , Fish, Fruits and Vegetables , Sugar & Cement , etc are having a mixed trend due to exchange restrictions / depreciation. Depreciation played a major Role in showing a rise in Exports in Rupee Terms. Exports Declined , needs control on energy cost , petroleum prices , etc. The growth of Manufacturing Sector will grow Exports of the Country and the Economy of the Country as a whole.
He added that what is necessary is the simplification of taxation systems and reduction in the rates of taxes.
Government needs to reduce borrowing from Commercial Banks, ensuring the availability of necessary capital for the private sector to enhance manufacturing activities.
Privatize loss making state owned Enterprises, at any cost.
Reduce Policy rate and the number of holidays.
