KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Trade Development Authority of Pakistan (TDAP) have agreed to collaborate on export growth and long-term policy development.
According to a statement from the FPCCI, President Atif Ikram Sheikh said the country’s trade and industry require a consistent, long-term and facilitative trade policy to drive export growth in both conventional and non-conventional sectors. He made the remarks at the opening session of the FPCCI Export Advancement Conference.
He noted that the enthusiastic participation of a wide range of industries and sectors in the conference demonstrated the private sector’s eagerness to expand in international markets -- provided they are offered an enabling and incentivised environment in which to operate.
Faiz Ahmad Chadhar, chief executive of TDAP, attended the conference as chief guest. He stressed that TDAP supports a coherent and ongoing consultative process with industry stakeholders. He added that sector-specific research and planning activities are being conducted to strengthen the authority’s recommendations and responses to exporters’ concerns.
Saquib Fayyaz Magoon, senior vice president of FPCCI, presented a resolution at the close of the conference, calling for a comprehensive 20-year export and industrial policy. He said the role of Pakistan’s trade and investment officers (TIOs) should be redefined to be more proactive and results-driven to effectively support export promotion.
The FPCCI also urged the restoration of the previously implemented fixed tax regime (FTR) for exporters. It proposed a fixed withholding tax (WHT) rate of 1.25 per cent to streamline tax collection. Alternatively, a 1.5 per cent WHT could be applied, provided that the 0.25 per cent Export Development Surcharge (EDS) is abolished. The Export Facilitation Scheme (EFS) should also be extended to local manufacturers, and the 18 per cent sales tax on local supplies should be eliminated immediately.
Furthermore, the FPCCI recommended the signing of free trade agreements (FTAs) with countries where such agreements are not yet in place, to facilitate market diversification. It also called for the establishment of banking channels in African countries to unlock trade potential.
Support for women entrepreneurs through TDAP was also stressed to foster the growth of micro, small, and medium enterprises (MSMEs) and promote inclusivity. The FPCCI urged focused promotion of high-potential sectors such as mines and minerals, information technology and processed foods, noting their capacity for exponential export growth.