This refers to the news story, ‘Businessman suggests govt for taking advantage of coronavirus’ (Mar 6). This is timely advice as the global economy is not expected to recover before the end of the year. Commodity prices, besides oil, have plummeted while the prices of raw materials and finished goods have also nose-dived. The government must renegotiate commodity prices and source imported items from the cheapest supply point.
Likewise, the situation offers a golden opportunity to enhance exports to China as well as to countries which are importing from China. Pakistan has been granted duty-free access on hundreds of items under the new FTA with China whose implementation has already begun. The downturn in the Chinese economy provides an ideal window to push up exports to China and to countries which traditionally have been the markets of China and its trading partners. The Ministry of Commerce has to play a key role and must not miss the opportunity.
Kulsoom Arif
Karachi