ISLAMABAD: Pakistan may miss export target of $27 billion as the government has failed to facilitate exporters with business-friendly environment.
This was revealed in the report issued by the Pakistan Economy Watch (PEW). PEW Country President Dr Murtaza Mughal said that Federal Board of Revenue (FBR) could not pay original refunds of around Rs100 billion, while fake refund claims are being processed immediately.
Mughal said that the facility of GSP has benefited from the textile sector but has failed to benefit country’s economy while majority of the trade agreements with friendly countries have remained counterproductive.
He said that the Commerce and IT ministries should have full control over Export Development Fund and Universal Service Fund which the Finance Ministry using for other purpose.
Commerce and IT ministries should be freed from the influence of Finance ministry so that country could develop through increased trade and commerce, he demanded.
Dr Mughal noted that TDAP is more interested in traders’ politics and cultural activities than promotion of exports. It has blocked rebate of the sugar industry worth Rs2.7 billion from years and all the efforts to get it released have foiled.
