At last the prime minister has broken his silence on the country’s exports, which have been phasing out for the last couple of years. However, his vision of the situation and ability to resolve the issue carries a big question mark, especially when he has constituted a ‘fact finding committee’ and is awaiting its recommendations to boost exports. The prime minister and his team have expressed the resolve to find a solution to the problem but formation of one committee after another is not a good choice and it will complicate the situation rather than bringing any good to the economy. The exports are nose-diving as the business community is forced to fight consistently with various government agencies in an environment where the investors fear for the safety of their lives and property. Any government official can catch a respected businessman from the collar and he is unable to release himself.
A handsome number of businessmen have winded up their businesses in Pakistan and have left for the attractive destinations. No one in the government has the time to check and find the causes of the capital flight. The government institutions, which were set up to facilitate the business community, are incapable of doing anything and their head are appointed on political grounds. The cost of doing business is increasing and the business community is unable to compete in the international market. The finance ministry only concentrates on the collection of taxes, duties, and charges which are slapped one after another, leaving little room for the businessmen to maintain their dignity and operate their businesses in peace. The prime minister has again set up the committee to file a report within a week, containing causes of the falling exports, but the matter is not as simple as it seems to be.
The country is fighting a war on many fronts and the enemies are trying their best to cripple the economy of Pakistan and isolate it in the international community. Unfortunately, the government is not proactive in its approach to resolve any pressing issue. The country is facing falling exports and the government should have taken the notice of it a long ago. However, it is never too late and the business community needs to be facilitated not in terms of energy supply and infrastructure, but also in duties and taxes. Economists believe a good business environment guarantees the flow of revenue to the government exchequer. The Board of Investment, the commerce ministry and the State Bank will have to be on the same page to resolve the issue.
