ISLAMABAD, OCT 08 (DNA) The Pakistan Economy Watch (PEW) on Wednesday said Government’s claim to double exports in three years’ time is highly exaggerated.
The Federal Commerce Minister recently said that Government is to introduce reforms in the next budget to lift exports by 100 per cent until 2018 is idealism and contrary to the ground realities, it said.
Textile sector is the largest foreign exchange earner for the country that is mostly located in Punjab and remained inoperative because of energy shortages, said Dr. Murtaza Mughal, President PEW.
He said that Pakistan’s main exports include cotton and knitwear (28 percent of total exports); bed wear, carpets and rugs (8 pc), rice (8 pc) and leather, fish, sports goods and fruits and vegetables which cannot be doubled in absence of a political will.
Dr. Murtaza Mughal said that Pakistan’s main export partners include United States (15 percent of total exports), United Arab Emirates (10 pc), Afghanistan (9.5 pc), China (9 pc), UK (3 pc) and Germany (2 pc) to whom the level of exports stand stagnant since last few years.
Exports could only be increased by provision of incentives, policy support, enhancing competitiveness, improved investment, and improving energy as well as law and order situation, he said.
Weak monitoring and enforcement systems, Negligence about international health and safety standards, unresponsive commerce and textiles ministries, poor trade diplomacy, semi-educated business leaders, too much politics in many chambers of commerce and textile related associations are also to be blamed for the dull export performance, he observed.