August-2009
 

 

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Trade Policy envisages consistent framework for three years

The business community termed the new Trade Policy 2009-12 as positive because it provided traders a consistent policy framework for three years along with envisaging relief measures for many sectors. They also appreciated the overcoming of supply-side constraints and creating different funds to support industries.

According to President of Islamabad Chamber of Commerce and Industry, Mian Shaukat Masood, the zero-rating of all kinds of exports was a good incentive for manufacturers-cum-exporters to improve their profitability. He said the government should have announced textile policy immediately after trade policy as delay in announcing textile and monetary policies meant that textile sector would lose first quarter of current financial year to improve exports, which would be a great loss to the economy.

The ICCI Chief said the USA and EU had provided duty free access to Bangladesh for textile products which badly affected exports of Pakistani textiles and to avoid further business losses, many Pakistani textile sector businessmen were considering moving their businesses to Bangladesh. He urged the government to immediately take up this matter at hand with Western and European countries to provide same incentives to Pakistan to save textile industry from further damage.

 
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