ISLAMABAD: While lauding the government for announcing export package worth Rs180 billion, the Islamabad Chamber of Small Traders (ICST) has demanded to double the size of package.
The export package is laudable but the allocation should be increased to Rs360 billion as the existing package has partly supported the exporters, said Islamabad Chamber of Small Traders (ICST) Patron Shahid Rasheed Butt. He said that recent terror incidents across the country have dented the confidence of investors therefore the militants should be dealt with Iron hand. Exports continue to fall hurting the confidence of investors, hitting forex reserves and renewing fears of losing export markets, he added.
He said that exports are stagnant since last few years and the current export target is unachievable in the current set of circumstances. He feared that imports would continue to grow leaving the country with little options to seek another International Monetary Fund (IMF) programme.
He noted that pushing exports to $50 billion in not difficult if some steps are taken in the right direction for which political will is needed. “The business leader said that many countries are facing energy crisis therefore our authorities should stop blaming energy crisis for everything,” he added.
The present dismal situation can be changed by ending adhocism, promoting SME sector which covers 96 percent of the businesses, establishing export and import bank, appointment of professionals on key posts and taking some harsh unpopular decisions, he suggested.
