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HomeEconomyExports will figure $ 23.4 bn for FY 18: Secretary Commerce

Exports will figure $ 23.4 bn for FY 18: Secretary Commerce

KARACHI, Jun 29: The declining trend of exports has now been reversed and it is expected that exports will register increase up to 15 percent making the exports value to dollars 23.4 billion in the current fiscal year.

This information was shared by Federal Secretary Commerce, Mohammad Yunus Dagha on Friday in a meeting with local industrialists.

In his address to members of SITE Association of Industry, the secretary commerce also informed the audience that several initiatives had been taken by his ministry including increase export package for next three years on the ratio of 50 percent on regular exports and 50 percent with condition of incremental exports.

Former prime minister Shahid khaqan Abbasi was convinced for this by the secretary commerce. Also, out of 488 items, the duty on 255 items had been revised downward.

For the first time, Pakistan's National Tariff Policy had been drafted which would be tabled to next coming government.

Suggestions from industrialist were required on National Tariff policy 2018-23 which was available on ministry's website, he said.

He said under emerging Pakistan initiative, several image building measures had been taken which had resulted in greater interest of the local industry and improve Pakistan's image worldwide.

He said industry must not be penalized by cross subsidy in utility tariff (domestic and agriculture) and in this regard his ministry had also amended NEPRA Act. New hydel projects had been launched and very soon industrial tariff would appropriately be drop down from Rs 16 to Rs.9.5 per unit.

Secretary commerce added that trade related investment policy was under compilation, which focuses import substitution, value addition and brand development, he asked the industrialists to kindly

provide their valuable inputs in this regard also.

He emphasized that infrastructure of SITE needed to be developed at the earliest including roads and green belts. In this regard, he assured, his office was available for any assistance.

Meanwhile, President SITE Association of Industry, Muhammad Javed Bilwani, in his welcome speech, appreciated the efforts of the secretary commerce in resolving the issues being faced by

industrialists and especially local industries.

He urged the secretary to also look into some minor issues which were being neglected such as 24 hours movement of vehicles to the ports especially to Port Qasim from Mai Kulachi. PICT, KICT and SAPT were three major port terminals of the city. But, unfortunately, there were no direct links with the industries and highways. The  examination and inspection of import and export consignments must be separated to reduce clearance time, Bilwani said.

He requested the secretary commerce to also look into the possibility of financing SITE Industrial House which would be mini expo center and in this regard SITE industrialists were ready to share the cost, if seed money was being provided by ministry of commerce.

SITE Association's Patron-in-Chief, Siraj Kassam Teli and its former chairman Zubair Motiwala also spoke. They lauded the efforts of secretary commerce.

Former chairman SAI, Junaid Makda taking part in the discussion emphasized the secretary commerce to revive the role of Association in the new Prime Minister’s Export package notification and also to take up the matter of GIDC.



Posted on: 2018-06-29T22:13:00+05:00
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