Gohar offers recipe to improve exports

ISLAMABAD: Ejaz Gohar, former federal minister of commerce, industries, and interior and existing patron-in-chief of APTMA has come up with a recipe to get the country out of economic morass titled ‘A Roadmap To Economic Stability And Export-led Growth ‘ a day before the federal budget for FY26 which is to be presented today (June 10, 2025) here in the Parliament.

In his X-tweet on June 9, 2025, Gohar suggested to the financial managers of the government involved in making the budget saying that industrialization must be a top priority for the government. For rapid growth, he suggested establishing Special Industrial Zones near major cities with full infrastructure and globally competitive energy rates. The industry must be cost-competitive to win in global markets. He also highlighted that the Export Facilitation Scheme is a discriminatory policy against the domestic value chain and imported products. This has led to massive closure in the domestic value chain requiring protection for domestic industry.

Gohar also stressed a consistent 5-Year Industrial & Export Policy for increasing the footprints of industrialization across the country resulting in a massive surge in exports. This will help increase the confidence of the investors as they need predictability. He also pinpointed that the economy needs direction.

The patron in chief APTMA also suggested to brig the interest rates to 6% and energy tariffs for the industry at 9 cents/unit are critical to make Pakistani products globally competitive. “Exporters achieving 10% plus growth YoY should be offered 6% drawback of local taxes as the rewarding performance will drive exports to new highs.

He also asked for capping the maximum tax rate for salaried individuals at 20pc saying: “Let the middle class breathe and spend.” He advocated that super tax must be applied only to those corporations which have profits over Rs10 billion. “Let SMEs grow without suffocation,” he stressed. “More importantly, the construction sector is the engine of over 50 allied sectors and employs millions. It must be declared a national priority sector.”

He mentioned that the withholding taxes on tax-filer property buyers discourage home owners. “That tax must be withdrawn to revive real estate.” Agriculture is our backbone and to increase the production of wheat, cotton, maize and sugarcane, the government needs to spend on research and development for better returns of the said cash crops. He said that corporate farming is the way forward to modernize agriculture, scale productivity, and ensure food security. “Competitiveness to produce goods and services efficiently, to meet international market standards, while creating value for its enterprises and bringing prosperity for its people. Let’s reform. Let’s rebuild. Let’s rise as a Nation.”