Karachi, June 29, 2018 (PPI-OT): The declining trend of exports has now been reversed and it is expected that exports would likely to increase by 14 to 15 per cent and would rise up to around US$ 23.4 billion by the end of the year. This information was shared by Secretary Commerce, Mohammad Yunus Dagha on Friday while talking to local industrialists.
In his address at SITE Association of Industry, Secretary Commerce Yunus Dagha also informed the audience that several initiatives have been taken by his office such as: he convinced the former Prime Minister of Pakistan Shahid Khaqan Abbasi to increase export package for next three years on the ratio of 50 percent on regular exports and 50 percent with condition of incremental exports. He also informed that out of 488 items 255 items duty has been revised downward.
He said that for the first time Pakistan’s National Tariff Policy has been drafted which would be tabled to next coming government. “Suggestions from industrialist are required on National Tariff policy 2018-23 which is available on Ministry’s website”. He added that under emerging Pakistan initiative several image building measures have been taken which have resulted in greater interest of the local industry and improve Pakistan’s image worldwide.
He is of the view that industry must not be penalized by cross subsidy in utility tariff (domestic and agriculture) and in this regard his office has also amended NEPRA Act. He further added that new hydel projects have 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 is 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 need to be developed immediately such road and green belts and in this regard his office is available for any assistance.
Meanwhile, the 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 said that whatever issues he was likely to place on the table Yunus Dagha is already addressing them effectively.
He asked Secretary to also look into some minor issues which are being neglected such as 24 hours movement of vehicles to the ports especially to Port Qasim from Mai Kulachi; PICT, KICT and SAPT are three major ports of the city but unfortunately, there are no direct links with the industries and highways; examination and inspection of import and export consignments must be separated in order reduce clearance time.
He requested 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 are ready to share the cost, if seed money is being provided by Ministry of Commerce.
On this occasion Siraj Kassam Teli, Patron Inchief; Zubair Motiwala, former Chairman of SITE Association also addressed and lauded the efforts of Secretary Commerce. Junaid Makda taking part in the discussion asked 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. Later on, Abdul Rasheed, Senior Vice President presented the vote of thanks.
For more information, contact:
S.I.T.E. Association of Industry
H-16, Textile Avenue, SITE, Karachi
Tel: +92-21-32562883, +92-21-32560705