Economy is facing the reduction in exports : FPCCI

Lahore: The Federation of Pakistan Chambers of Commerce and Industry Vice President & Regional Chairman Ch Arfan Yousaf stated that over the last two decades, there has been a drastic change in the world export markets, where the focus has shifted from the traditional western countries to new  emerging markets in Africa, Asia, Central Asia, China and India.

Making trade between economies easier is increasingly important for business. Excessive document requirements, burdensome customs procedures, inefficient port operations and inadequate infrastructure and extra-ordinary delays in release of refunds all lead to additional costs and delays for exporters.

He expressed these views while talking to a delegation of Bahawalpur Chamber of Commerce & Industry (BCCI) at the FPCCI Regional Office Lahore.

Arfan Yousaf emphasized upon improving the various areas of ease of doing business including improvement in business environment. Pakistan ranks at 147 out of 190 countries in stated index whereas it ranks at the tail at 171 in cross border trading indicates that war footing policy measures are required for attracting global capital particularly in our export sectors.

He showed his concern that despite the World Bank forecasted the 5.5 percent growth in fiscal year 2017-18 while economy is facing the reduction in exports and pressure of external debt and liabilities.

Arfan is of the opinion that the development of Pakistan economy is subject to efficiency of agricultural sector ― the agro-based commodities are traditional goods to contribute in exports of Pakistan. The value addition in this regards is primary element to enhance exportable surplus.