Pak govt urged to take bold steps to raise exports to $35 bn by 2018

Pakistan government being urged by textile value added sector to bring down the cost of all the essential utilities at par with the regional competitors to increase the country’s exports to $35 billion by 2018. The country needs to increase exports with approximately 30 percent growth every year until June 30, 2018 and with 30 percent growth every year the exports will reach to $27 billion in 2016/17 and $35 billion in 2017/18.

The Pakistan government needs to take bold steps to raise the exports to $35 billion, set under the strategic trade policy framework 2015-18, said Pakistan Apparel Forum Chairman Jawaid Bilwani. He said that the five export sectors must be declared as separate head of account in gas and electricity tariff structure and top priority be given to the export oriented industries in the supply of all utilities.

He said all custom rebate claims are settled and paid through the State Bank of Pakistan (SBP) at the time of realisation and payment of export proceeds.

Worker Welfare Fund (WWF) rate should be reduced to one percent from two percent for the exporters.

Exporters, falling under the final tax regime, should be exempted from payment of withholding tax and be given exemption certificates.

Deduction of export development fund (EDF) surcharge should be stopped at least for the next five years as the government already has Rs26 billion funds in its kitty for export development.

The present government has eased the power situation. It is therefore proposed that Saturday should be resumed as a working day for the federal government. The workers should not be entitled to provincial government’s holidays and gazetted holidays can be adjusted by employer and employee with mutual consent.