Rs 26b to be spent to boost exports

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MULTAN – Director General Trade Policy, Ministry of Trade and Commerce Dr. Safdar A Sohail said on Wednesday that a sum of Rs. 26 billion would be spent on initiatives to promote the country’s exports under the new trade policy 2012-15. Talking to the news agency during a visit to Multan, he said

Rs. 5 billion portion of this amount would be spent during the on-going fiscal year 2012-13 till June 2013.  Dr. Safdar attributed the country’s trade deficit to heavy import of petroleum products raising its cost to above US $14 billion. Moreover, Pakistan also imported raw material for fertilizers and other products, he added.  He underlined the need for better liaison and coordination among standard and quality control departments in the country.

He said a new development plan was under consideration for auto industry. He said auto industry had been enjoying protection for last many years but the benefit was not passed on to people. He said the government had allocated Rs. 20 million for promotion of women entrepreneurs, adding that all possible steps would be taken to strengthen women entrepreneurs and women chambers of commerce and industry.

To a question, he said duties on import/export was a complicated issue due to role of many departments in it. He added the government could offer incentives to traders and industrialists but it became extremely difficult for the government when they insisted acceptance of all their demands.

Courtesy: The Nation

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