HYDERABAD:President Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has emphasized the need to initiate collection efforts to increase the volume of Pakistan’s exports so that the country could come out of the economic crisis.
Despite issues of water and energy, Pakistani businessmen are hitting the 26 billion dollar exports mark whereas Bangladeshi exports stood at $ 60 billion dollars with single digit markup ratio like other Asian countries, he said while addressing the participants of a national export training programme organized by Trade Development Authority of Pakistan (TDAP) on Monday evening.
He said that foreign remittances in Pakistan stood at 22 billion dollars, however, he said that close liaison with TDAP will help in increasing export volume as best as possible.
He informed that the business community of Hyderabad had helped the Federal Board of Revenue to meet the tax collection target of Rs 7,100 billion in 2022-23 and now the target of Rs 9,000 billion would be achieved with the same zeal in 2023-2024.
Adeel Siddiqui said businessmen are investing their money after earning them here.
He maintained hard work is required from TDAP because it remains the only body that could help Pakistan to increase its exports. He assured that HCCI would collaborate with TDAP in order to showcase products of Hyderabad on TDAP’s website for increasing business activities.
In her briefing, thes Deputy Manager TDAP Afshan Urooj disclosed that Pakistan and Bangladesh were at par in 2018 insofar as exports were concerned which stood at i.e. two billion dollars. The small and medium enterprises are being supported in Bangladesh compared to large-scale industries, she added that grip on foreign languages was necessary in export businesses.
She said that export could change the destiny of the country, adding that the TDAP had registered 99,000 Pakistani products with their codes. She said that exports must come up with their plans and the company should be registered on the website adding that brochures of products should be prepared accordingly.
She said that textile products could compete in America and European Union markets while basmati rice can be exported to Arab markets adding that finding foreign buyers was not a problem as they are available on TDAP’s website.
The Assistant Director of the State Bank of Pakistan’s Business Support Unit Sibghatullah Noorani informed the participants that SBP was also supporting traders in export refinancing.
Deputy TDAP Manager Qazi Sadiq Arsalan assured to continue the TDAP’s assistance for the business community.
Among others, HCCI Vice President Awais Khan members Pahlaj Rai, Salahuddin Qureshi, Shafqatullah Memon, Ghulam Sarwar Panhwar, Ahsan Naghar and Haji Javed also attended the event.