Karachi, January 02, 2016 (PPI-OT): The President, Lasbela Chamber of Commerce and Industry (LCCI), Maqsood Ismail has criticised the inordinate delay in the announcement of the industrial and trade policy framework and exporters’ package, saying that the uncertainty is creating problems for the country’s industry and the export sector. “Prime Minister Nawaz Sharif promised to announce the Strategic Trade Policy Framework (STPF) package a few months back but the government is unable to understand the urgency”. Delays in taking decisions often cost the people and the economy heavily as industry is in real bad shape and particularly the export-oriented industry is struggling for survival.
Comparing the country’s exports of $24 billion to Bangladesh’s $31 billion and Vietnam’s $97 billion, he said the world will not wait for Pakistan to announce its trade policy. “The top export category for both these economies is textile. The foreign buyers have made it clear to us that they would not wait for us to announce the STPF. We are working in a highly competitive international environment and our peers are occupying the available space in international trade each passing day, leaving little place for Pakistani companies.”
He lamented that the industrial sector was facing multiple issues. “Any proposed policy or package should give special treatment to sectors that provide employment to a large number of people,” he said. Maqsood praised the KPK Government for announcing the industrial policy and giving an incentive on the part of provincial government.
He said that other provinces should also follow the footsteps of KPK Government and come out with a clear-cut industrial policy with extending the investors every possible incentive and assistance. He also drawn the attention of newly elected Chief Minister of Balochistan to immediately announce trade and industrial policy and open up new avenues for industrialization in Balochistan.
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