Wednesday, 22 May 2024, 04:22:49 pm

Analysts praise government’s measures to improve economy
October 07, 2022

Dr. Mirza Ikhtiyar Baig (Industrialist): The announcement by Finance Minister Ishaq Dar to provide subsidized tariff rates to certain export oriented industries is a very good step and it will boost the export sector. These five sectors are textiles, carpet, leather, stored goods and surgical items. The purpose of this measure is to provide incentive to these industries to help them compete at international level. The business community is very happy over this decision as it will go a long way to help them. It is difficult to predict how much exports will rise after this decision but these steps certainly help the business sector.

Khurram Dastgir Khan (Federal Minister for Power): We want to assist our export-oriented industries to help them get more business. We looked at tariffs of electricity in neighboring countries especially in the textiles sector, and determined this rate. This tariff will help Pakistani industry becoming competitive regionally as well as internationally. Pakistan has opportunity in the current international environment as most international buyers are looking toward other suppliers and we can get benefit from this situation to meet their orders.

Dr. Noor Fatima (Economist): Providing incentives to industries for export-led growth is very important. One critical factor is the tariff of power which needs to be rationalized for increasing the competitiveness of Pakistani products. Some sort of government intervention is necessary in order to control things. The rate of rupee is appreciating against the dollar which is a good sign. With improvement in economy of the country, international investors will throng to invest in various sectors of Pakistan which will further improve the economic landscape.