TDAP approaches government for early release of Rs 7 billion funds

Trade Develop-ment Authority Pakistan (TDAP) has approached the government for early release of Rs 7 billion of export development surcharge. This was stated by Chief Executive TDAP, Tariq Iqbal Puri during a meeting of Korangi Association of Trade and Industry (KATI) on Tuesday, he said that efforts are being made to hold a meeting with Federal Finance Minister on the issue.
The TDAP chief said that the authority has many export-oriented projects in pipeline and after receiving funds, they would be implemented. He further said after release of funds TDAP would be in a position to carry out its export-oriented plans besides releasing the amounts of subsidies to the exporters. He emphasised the need that Prime Minister should hold and chair Export Development Board meeting to resolve issues pertaining to exports.
Replying to a question, he said that TDAP board of directors will be constituted soon having increased representation of business community and reduce number of government repetitive.
He said that TDAP is planning to take part in 88 international exhibitions abroad including 25 exhibitions scheduled to be held in China. China has offered free stalls in some of these exhibitions, he added. He said that China would be the focus country for TDAP during 2011 as Chinese market is much rewarding than other countries and Pakistan's home textile and other items have a big possible of export.
He said that TDAP is planning to split the Expo Pakistan exhibition into 5 to 7 sartorial exhibitions this year and invited trade bodies to suggest and give their opinion in this regard. He said that TDAP is planning to carry out assistance and funding plan to non-traditional items' manufacturers with the financial assistance of USAID. Referring to UE market excess, he said that EU has allowed zero rate import of number of goods from Pakistan and this facility if properly utilised will boost Pak export by 20 percent.
Former President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) S M Muneer asked the TDAP to release millions of rupees of exporters stuck up with the TDAP against export freight subsidies and reconstitute its board of directors with inclusion of prominent figures from the private sector.
He said that the present government has no sense of direction and running the economy only through increasing POL and utilities prices besides increasing mark up rates due to which economy has been put in ICU. He mentioned that government is roaming around with begging bowl to get dollar and the export-oriented industry which is earning precious dollars is being taxed unjustifiably.
Chairman, KATI, Syed Johar Ali Qandhari said that due to wrong policies by the government, industrial sector is facing survival problem and many industries have already been closed down whereas volume of non-performing loans has gone up to Rs 500 billion. He questioned that how the exports would survive in case of ever-increasing prices of electricity, POL, gas and other inputs.