Lahore
\nThe Pakistan Industrial and Traders Associations Front (PIAF) has welcomed the government\u2019s recent export promotion initiatives announced by Prime Minister Shehbaz Sharif at the Top Exporters Award Ceremony 2024\u201325, terming them a positive and much-needed step toward easing the cost pressures faced by Pakistan\u2019s industrial and export sectors. At the same time, PIAF has stressed that sustained export growth will require deeper structural reforms, particularly in the power sector, taxation and value-addition.
\nIn a statement issued on Friday, PIAF Chairman Faheemur Rehman Saigol, Senior Vice Chairman Nasrullah Mughal and Vice Chairman Tahir Manzoor Chaudhry appreciated the government\u2019s decision to reduce export refinance rates, cut electricity tariffs for industries and lower wheeling charges under a special relief package. The leadership said these measures reflect the government\u2019s recognition of the challenges faced by exporters in a highly competitive regional and global environment.
\nPIAF Chairman Faheemur Rehman Saigol said that high energy costs, expensive financing and policy uncertainty have eroded the competitiveness of Pakistani exports over the years. He noted that the reduction in electricity tariffs by Rs 4.04 per unit and the lowering of wheeling charges would help bring down production costs, although Pakistan\u2019s industrial power tariffs remain higher than those of regional competitors such as India and China. He added that further rationalisation of energy pricing is essential if Pakistan is to compete effectively in international markets.
\nFaheem Saigol also welcomed the government\u2019s move to reduce export refinance rates, stating that cheaper credit would allow exporters to improve cash flows, invest in modernisation and enhance productivity. However, he cautioned that short-term relief packages should not be reversed due to fiscal or IMF-related pressures, as policy inconsistency discourages long-term investment and planning.
\nSenior Vice Chairman Nasrullah Mughal said that export earnings are far more sustainable for the economy than reliance on external borrowing and rollovers from friendly countries. He expressed concern that exports have been declining as a source of foreign exchange, while imports continue to rise, widening the trade deficit. Mughal pointed out that Pakistan\u2019s export basket remains narrow and overly dependent on low value-added textiles and primary goods, making it vulnerable to global shocks and changing trade dynamics.
\nHe urged the government to place greater emphasis on value-addition, diversification of exports and development of new sectors such as engineering goods, information technology and emerging technologies including artificial intelligence. According to Mughal, encouraging higher value exports would not only boost foreign exchange earnings but also create skilled employment and strengthen the industrial base.
\nVice Chairman Tahir Manzoor Chaudhry said that while symbolic measures such as the announcement of blue passports for leading exporters may recognise their contribution, the government should also focus on broader facilitation for businesspersons and citizens facing increasingly restrictive visa regimes abroad.
\nHe stressed that ease of travel is critical for exporters seeking new markets, attending trade fairs and building international partnerships.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lahore The Pakistan Industrial and Traders Associations Front (PIAF) has welcomed the government\u2019s recent export promotion initiatives announced by Prime Minister Shehbaz Sharif at the Top Exporters Award Ceremony 2024\u201325, terming them a positive and much-needed step toward easing the cost pressures faced by Pakistan\u2019s industrial and export sectors. At the same time, PIAF has […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-531614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n