Islamabad April 09 (Online): Parliamentary Secretary for Commerce, Textile, Industries and Production Aliya Hamza Malik has said in the aftermath of covid-19, the federal Government disbursed Rs 75 billion amongst the industrial workersshe added that during the first and second wave of the pandemic.
\nBesides, Rs 71 billion were released for the Utility Stores whereas the Prime Ministerprovided relief packages to factories and industries in the electricity and gas bills.
\nShe said this while speaking at Pre-budget symposiumand launch of SDPI\u2019s report titled \u2018Supportingexport competitiveness amid Covid-19 in Pakistan, held by Sustainable Development Policy Institute (SDPI) in collaboration with UK\u2019s Foreign, Commonwealth & Development Office (FCDO).
\nMalik termed SDPI\u2019s report highly valuable and said that it would help the government in finalizing Federal Budget for thenext financial year as well as to accelerate the reforms andincentives for the export led firms.
\nThe availability of rapid evidence from businesses could help the Ministry of Commerce to improve the facilitation on the part of the government, she added.
\nSenior Economist and Team Lead, FCDO, Pakistan, Mr Richard Ough, while appreciating SDPI for producing a well searched report, said that the Covid-19 pandemic rendered huge impact on the businesses in Pakistan. Therefore, the government needs to reach out to those sectors of the economy that have been worst hit.
\n\u201cThe new normal is all about adapting, adjusting and reinvigorating our system and way of life,\u201d Mr Ough saidand suggested that the green recovery needs to be taken in a serious manneras a voyage for the future of green economy.
\nDrAbid Qaiyum Suleri, Executive Director, SDPI, remarked that that the third wave of the covid-19 has struck us in times when we are preparing for the Annual Development Program as well as the annual budget 2021-22.
\nThus, he said, it demands a greater focus to be paid on attracting new foreign investors and supporting our local export led enterprises. Likewise, Pakistan should open up for non-traditional markets such as Africa and Latin America to further strengthen its exports.
\n\u201cLinking research and evidence-based policy with practice should be one of the major aims of the independent institutions amid the new normal,\u201d Dr Suleri emphasized and added that apart from the challenges the Covid-19 has ensued new opportunities for getting digitized our markets and economics and also ensuing the freelancing economy in the country.
\nShandana Gulzar Khan, MNA, was of view that in Pakistan, we lack empirical data and research which can support the legislators for bringing innovative changes in the economy. The Covid-19 impacts on trade have been devastating and we need to upscale our export firms for the economic revival in the country.
\nWhile highlighting the role of export in Pakistan economy, Annabel Gerry, Development Director, FCDO, Pakistan, suggested that trade openness, decreasing tariff barrier, regional integration and liberalizing regional trade, will be important for Pakistan\u2019s export led industries. She added that reforms in the taxation sector are also required and the export sector needs special attention in these times of the pandemic.
\nDr Vaqar Ahmed, Joint Executive Director, SDPI, while moderating the session, highlighted the key features of his report and explained that how different sectors of the export led industries were affected by the pandemic.
\nHe said that the report sheds light on three main areas i.e., exploring possibilities for an export-led recovery, enabling non-export sectors to pivot better and an early growth signs in exports as lockdown ease.
\nHe added further that the trade costs have been increased for exporter and importers, loss in productivity, new stringent SPS measure increased, firms were forced to embrace e-commerce and digitization and learning by-export methods.
\nHe said that his report suggest that the tariff and tax policies need to be revisited to facilitate post-pandemic recovery, e-commerce policy needs legislation for data protection and online security, increased coordination across commercial officers and poetizing deeper public private dialogues.
\nManaging Director Pakistan Software Export Board, Ministry of Information Technology and Telecommunication, Osman Nasir, on the occasion highlighted that the IT sector faces numerous challenges pertaining ease of doing business.
\nHe was of view that Pakistan has great potential in the field of IT, freelancing and software sector that could be tapped by right kind of facilitation. <\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad April 09 (Online): Parliamentary Secretary for Commerce, Textile, Industries and Production Aliya Hamza Malik has said in the aftermath of covid-19, the federal Government disbursed Rs 75 billion amongst the industrial workersshe added that during the first and second wave of the pandemic. Besides, Rs 71 billion were released for the Utility Stores whereas […]<\/p>\n","protected":false},"author":2,"featured_media":185007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-185001","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"\n