Trade Policy envisages consistent
framework for three yearsThe 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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