ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the export package announced by prime minister has enhanced exports by 16 percent last month.
Briefing the National Assembly Standing committee on Commerce, Khan said that the industry is facing many problems due to increase in the cost of production. He said that the local industry is unable to compete in the international market which resulted in decline of exports, causing trade deficit in the country.
He said that the Ministry of Commerce has not concluded any preferential trade agreement or free trade agreement with any country during the last four years.
He claimed that electricity and gas was being provided regularly and continuously to the industries to enable the exporters meet deadlines with foreigner buyers.
On getting briefing from the Commerce Minister, the Committee recommended the Ministry to discourage the import of commodities/products which were produced within Pakistan; in this connection, heavy import duty, taxes, tariffs and regulatory duties must be levied on all those import items which may hurt the domestic industry.
“The MoC must take strong exception of any such import which may damage the interests of local industrial because imports of such commodities lower the value of locally produced items as well as reduce the profit margin of the producer and leave the labourer jobless in case of closure of any industrial unit due to non profitability “ Chairman committee Siraj Muhammad Khan observed.
At this crucial juncture, Committee unanimously recommended that that instead of giving cash subsidies to the industries, rebate on the rates of electricity and gas should be granted to all the industries. Committee directed the ministry to consider direct exemption of General Sales Tax (GST) on exports of all commodities/products.