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PESHAWAR, Mar 15 (APP):President Pakistan Business Forum (PBF), Khawaja Mehboob ur Rehman, has urged upon the government to develop a long-term strategy aimed at boosting Pakistan’s exports, a move he believes will foster economic stability and investor confidence.
The PBF emphasized the importance of having a strategy endorsed by Parliament, ensuring that export policies are consistent and remain in place beyond electoral cycles.
“A long-term, cohesive export strategy, backed by Parliament, would not only stabilize the business environment but also provide confidence to investors, businesses, and trade partners,” Rehman stated. “Such a commitment would lead to sustained growth, aligning government efforts with the private sector to drive exports.”
Rehman underlined the significance of a unified approach to export-led growth, one that fosters collaboration between the government, industries, and stakeholders. According to PBF, this would pave the way for a more stable and competitive economic future for Pakistan.
Rehman also highlighted the need for a robust trade dispute resolution system, a critical element in creating a conducive business environment. He pointed out that while the Trade Dispute Resolution Organization (TDRO), established under the Commerce Division as part of the Strategic Trade Policy Framework (STPF) 2012-2015, aimed to address trade disputes through alternative dispute resolution mechanisms, the necessary legislation to fully implement this system is still pending.
“In this regard Government intervention is essential to ensure the passage of relevant legislation,” Rehman urged, adding that resolving trade disputes efficiently would further strengthen Pakistan’s export sector.
PBF Chief Organiser Ahmad Jawad shared the PBF’s Comprehensive Export Strategy for the government to boost the nation’s export potential. The forum calls for a long-term national export policy, monitored by the Prime Minister to prioritize exports and foster a shift from control to empowerment.
The policy should integrate all stakeholders and provide a platform for growth and competitiveness. Similarly, exports are integral part to industrial policy: A sustainable export strategy must be linked to industrial policy, with an emphasis on manufacturing and import substitution.
PBF also stressed the need for transparency and accountability in export incentives, urging regular reviews to ensure long-term effectiveness.
In the Export Facilitation Scheme (EFS), the PBF has recommended revisions to the EFS, aiming to facilitate the participation of multiple domestic firms especially Pakistan Cotton in global supply chains.
PBF further called competitive energy rates for export sector: Energy with globally competitive rates is crucial to expanding the export basket. A proposed rebate system would ensure lower energy costs for exporters, benefiting both domestically marketed and exported products.
In the Competitive Exchange Rate mechanism: Pakistan Business Forum advocated for a stable Pakistani Rupee, with a real exchange rate between Rs 240-250 to the US Dollar, to help exporters regain market share.
However, on the Investment in Export Growth: The PBF has called for substantial investment from the Export Development Fund to diversify export products and markets, particularly beyond traditional sectors like textiles.
The PBF officials also put a light on the National Brand-Building Program with the example of Turkey’s successful brand-building initiative, the PBF suggests a government-sponsored program to promote Pakistani brands on the global stage.
The forum has also stressed economic diplomacy for market access, leveraging Pakistani missions abroad to negotiate market access, particularly in regions like the EU and the USA.