What about exports?

According to some media reports, the country’s exports fell by 3.82 percent in the first six months of the fiscal year 2017 – July-Dec 2016. This is indeed an alarming state on the economic front. It is encouraging to note that the prime minister has announced an export incentive package of Rs180 billion to help exporters deal with all kinds of difficulties. There is still a dire need to examine the serious issue of falling exports. A detailed analysis should be carried out to determine what other measures should be taken for fixing the export industry. The federal government claims that it has resolved energy shortage that has been besetting Pakistan’s industry, but there are still a few small-scale industries which face the problem of intermittent power outages quite frequently. This problem must be resolved soon.

The major role of federal commerce ministry is to assist all entities involved in exports so that their issues are addressed urgently. It must also be ensured that no compromise on quality be made. In manufacturing sector, right from raw material to finished products – including packaging – high quality must be ensured. All commodities must conform to international standards. Fruits and vegetables must be exported in approved packages. In the past, some of our exports were not approved owing to missing specifications. A government-appointed supervisory board should be given the task to ensure that all commodities are meeting the conditions specified. The Ministry of Commerce is requested to look into all those matters which are contributing to the decline of exports. Immediate steps can help save the sector.

Engr Riaz Akbar

Wah Cant

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This refers to the letter, ‘Unused capacity’ (Jan 12), by Syed Ovais Akhtar. The writer shows his concern on the closure of several multinational companies in the country as well as the under-utilisation of the existing companies. This is not limited to the pharmaceutical industry, but has affected other industries as well. It seems that the government is more inclined towards the trade and pay less attention to manufacturing. It prefers to import products and goods instead of focusing on indigenous production. As for the foreign exchange resources for the import, the easy route is to borrow from international market. This adds a lot to the country’s debt.

The present economic policy is a trade–oriented policy. Under the present circumstances, the country is facing a staggering trade deficit as exports are covering only 45 percent of the imports.

Shoaib Arif

Karachi