TDAP Secretary For Focus On Non-traditional Exports Sectors, Diversification
Umer Jamshaid 2 months ago Mon 30th November 2020 | 10:03 PM
Trade Development Authority of Pakistan's (TDAPs) Secretary Ahsan Ali Mangi on Monday emphasized to focus on non-traditional export sectors and diversification and innovations in traditional ones for sustained increase to exports of the country
KARACHI, (UrduPoint / Pakistan Point News - 30th Nov, 2020 ) :Trade Development Authority of Pakistan's (TDAPs) Secretary Ahsan Ali Mangi on Monday emphasized to focus on non-traditional export sectors and diversification and innovations in traditional ones for sustained increase to exports of the country.
He was speaking on " How to Create Exports Culture " on the inivitation by English Speaking Union of Pakistan, at a hotel. Prominent in the cluster of businessmen and academia were President ESUP Aziz Memon, former president Majyed Aziz, ESUP Vice President and former chief executive officer of TDAP, Tariq Ikram, Executive Committee members of ESUP Ghulam Farooq and Moin Fudda.
TDAP secretary said basic goal of a state is to ensure economic development and creation of wealth. Different models were being used in the world how to become wealthy ; at individual and national level. One successful model was the exports-led growth. He cited the example of Japan who penetrated and then captured big share of world market particularly in machinery and electronics.
Then China came up with a different economic model and beat many advanced countries in the world trade. For sustained economic growth and maintaining their share in international market , the advanced countries shifted their manufacturing facilities to the developing countries to benefit from low cost labour for becoming cost competitive.
In Pakistan, however, information technology sector was progressing well and thus around one billion dollars had been injected into the country's economy which was documented . Otherwise, he added, more than three billion dollars had been injected into the economy over last couple of years.
TDAP secretary said small and medium enterprises were the engine for economic growth in a country but there was not a single company available in the country to offer collateral to SMEs for getting finance for their expansion.
He said Pakistan's economy was over-regulated which had proved a setback to economic growth and increase in trade.
" Extra regulations , controls and complicated processes have proved barriers to economic growth and promotion of trade," he said.
Ahsan Ali Mangi mentioned that the country had only 17,000 exporters, of them only 600 had potential to export up to one million dollars.
He said that as a nation we did not address the real issues for sustained economic growth and increase in the exports. The focus was needed on pursuing long-term national interests.There was also need to work for import substitues.
ESUP Vice President and former CEO of TDAP , Tariq Ikram shared his experience when he headed TDAP during General (Retd) Musharraf's government and claimed that the country's export was significantly increased.
Earlier, ESUP's President Aziz Memon introduced the Secretary TDAP and briefed about his union's activities including arranging lectures by professionals on various important topics.