Export sector becomes white elephant: PEW
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Exporters addicted to subsidies, bailout packages
The Pakistan Economy Watch (PEW) on Thursday said the export sector has been relaying on government’s aid since long since becoming a burden.
The export industry has long been addicted to bailout packages, subsidies, tax breaks and other measures which put burden on the national exchequer to the tune of billions per annum, it said.
A little reduction in the government’s aid result in loss on the external front as export sector has never tried to become self-reliant or switch to value-addition, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that export sector is facing some problems but it should try to stand on its own feet.
Dr. Murtaza Mughal said that export sector has failed to realise the changing economic scenario which has resulted in colossal losses as exports contracted by five billion from 25 billion dollars to 20 billion dollars in three years.
During the three years exports of rival countries surged which proves weaknesses in our policies and effectiveness of the initiatives of opponents, he said.
Government seems concerned about falling exports but it hasn’t taken any concrete steps in the right direction, he added.
Exporters are facing issues like energy crisis, taxation problems, non-payment of refunds and increasing cost of doing business which has damaged it while continued retreat in the international market will damage the country beyond repair, he said.
