Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Standing Committee on Horticulture and Food Exports, Chairman Ahmad Jawad said without consultation from the private sector and sans identifying factors affecting the exports the cabinet panel approved three years trade policy draft for further approval. Even Commerce Minister said publicly last week that all stakeholders would be taken into confidence and it was first time in the history that private sector was being accorded priority in all policy formulation process.
He had also assured the recommendations and proposals of the FPCCI would be given an importance while framing and finalization of new trade policy. Jawad said, "We hoped the government might initiate public private dialogue to discuss sector specific issues but unfortunately it couldn't be done". To achieve $35 billion target till 2018 seems to be impossible regardless the government made all efforts to facilitate textile sector in the form of subsidies. However, there was no analysis available with the government that could precisely determine what factors played what role?
Despite the fact the country exports plunged to three years low of $23.8 billion in the last fiscal year. However in the first month of ongoing fiscal year the exports further plunged 17 percent which clearly showed the lack of importance of public private dialogue. Though one of the main reasons of missing export targets was that Pakistan's export base was quite narrow and concentrated in a few value-added products such as cotton and cotton manufactures, leather products, rice, chemicals, pharmaceuticals and sports goods as these products accounted for about 64 percent of country's total exports for the past many years.
He said that Pakistani exports could achieve much higher earnings by focusing on product and market diversification and value-addition, especially in the agriculture sector. He said the government should facilitate private sector in diversifying export base and adding value to exportable products. Jawad was of the view that country has great potential to promote exports of many other products, including marble and granite, engineering goods, IT products, fruits and vegetables, halal meat, dairy products, value-added textiles products etc.
He said that there was an urgent need to focus on non-traditional markets, including Central Asia, Africa, ASEAN and other emerging markets which offered plenty of opportunities for promoting exports of Pakistan's good quality and value-added products. "I think policy-makers need to be realised that Pakistan economy depends on agriculture. Agriculture is our pulse and we cannot runaway without fix this first. We all here to admire Indian growth but we never thought how they did? The answer is that they focused their agriculture sector first and they facilitated their farmers who is engine of the growth" he added.
Comments
Comments are closed.