President KATI Calls For Providing Incentives To Boost Exports

KARACHI, (UrduPoint / Pakistan Point News - 21st Jun, 2023 ) :Korangi Association of Trade and Industry (KATI), Wednesday urged the government to develop a comprehensive 10-year policy in consultation with industry stakeholders to boost exports and foreign exchange earnings.

President KATI Faraz-ur-Rehman, in a statement issued here, pointed out that Pakistan possesses the significant potential to earn foreign exchange through the textile, IT, pharmaceutical, and horticulture sectors.

emphasised the need of focusing on Pakistan's major export sectors and easing restrictions and conditions on exports as the government was in urgent need of foreign exchange and supporting the export industry was crucial in that regard.

He specifically highlighted the textile sector and urged the restoration of subsidised electricity and gas tariffs, as well as the provision of affordable and uninterrupted natural gas supply to industries.

He also emphasised the importance of restoring SRO 1125(1) of 2011, which would have a positive impact on the export industry.

The president of KATI underlined that relying solely on loans from international financial institutions or friendly countries will not resolve the ongoing economic crisis and urgent measures were needed to pay interest on loans and diversify revenue sources.

He expressed hope that the government would take proactive steps in consultation with stakeholders to achieve economic stability and stimulate export growth.