Pakistan likely to miss its exports target of $27bn

YarnsandFibers News Bureau 2015-04-07 14:00:00 – Islamabad

Pakistani textile sector has benefited due to the GSP facility but has failed to benefit the country’s economy as the government has failed to facilitate exporters with business-friendly environment due to which Pakistan likely to miss its export target of $27 billion.

According to the Pakistan Economy Watch (PEW) report, President Dr Murtaza Mughal said that Federal Board of Revenue (FBR) could not pay original refunds of around Rs100 billion, while fake refund claims are being processed immediately.

He said that the Commerce and IT ministries should have full control over Export Development Fund and Universal Service Fund which the Finance Ministry using for other purpose.

Commerce and IT ministries should be freed from the influence of Finance ministry so that country could develop through increased trade and commerce, he demanded.

Dr Mughal further noted that TDAP is more interested in traders’ politics and cultural activities than promotion of exports.

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