Trade, industry needs long-term, trade policy: FPCCI
KARACHI: Atif Ikram Sheikh, President FPCCI; President ECO-CCI and VP CACCI, has explained that trade and industry of country needs a long-term, reliable and facilitative trade policy to enable export growth in both conventional and non-conventional sectors of the economy. He was speaking to the opening session of FPCCI's Export Advancement Conference.
He apprised that the passionate participation of diverse industries and sectors in FPCCI's Export Advancement Conference is a testimony to the fact that all sectors want to grow in the export markets – provided they are given an enabling, incentivizing and encouraging environment to operate.
It is pertinent to note that Faiz Ahmad Chadhar, Chief Executive, TDAP, visited FPCCI to grace FPCCI's Export Advancement Conference as the Chief Guest. CE TDAP informed the conference that his institution believes in a robust and ongoing consultative process with the stakeholders in trade and industry; and, rigorous research and planning activities are being undertaken on a sectorial basis to support the recommendations and queries.
Saquib Fayyaz Magoon, SVP FPCCI, presented the resolution at the culmination of FPCCI's Export Advancement Conference. The key demands of trade & industry are:
The country needs to have a long-term Export & Industrial Policy for a period of 20 years.
Role of Pakistan's Trade & Investment Officers (TIOs) should be more active and result-oriented to make them tangibly deliver support to export promotion.
FPCCI demands that the previously implemented Fixed Tax Regime (FTR) should be restored for exporters. Additionally, a fixed withholding tax (WHT) of 1.25% should be levied to streamline it or 1.5% WHT can be levied; but, in that case, 0.25% EDS should be abolished.
Export Facilitation Scheme (EFS) should be made available to local manufacturers and 18% tax on the supplies of local manufacturers should be abolished with immediate effect.
Free Trade Agreements (FTAs) should be signed with countries where not in place to encourage exploration of new markets.
Banking Channels in Africa should be established to enable trade with them.
Women Entrepreneurs should be supported from the platform of TDAP to foster micro, small and medium enterprises (MSMEs) and promote a culture of inclusivity.
Mines & Minerals; IT and Processed Foods should be encouraged as these sectors can grow exponentially vis-à-vis their current export volumes.
Copyright Business Recorder, 2025
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