ADVISOR to Prime Minister on Commerce Abdul Razak Dawood proudly announced on Tuesday that exports surpassed the $2 billion mark for the second consecutive month in November, He said exports increased 7.2 percent year-on-year in November “in these difficult times with resurgence of COVID-19 cases in Pakistan and globally.”
This is surely a positive development in the backdrop of the not so good picture of the economy being painted by the media due to different reasons and factors. We have been emphasizing in these columns that Razak Dawood, who has intimate knowledge of the trade issues, can help overcome challenges that Pakistan faces in export promotion provided he is given free hand and other parts of the Government extend a helping hand in implementing recommendations being made by him for the purpose. He has articulately been pleading the cause of the business community and the export sector in power corridors and has succeeded to some extent in his endeavours to get relief and provide needed incentives to industrialists and exporters. Only a few days back, at his instance, Prime Minister Imran Khan approved a proposal for establishment of an Export Development Board (EDB), which would be chaired by the PM himself and it would hold its meetings every month to get input from all stakeholders. There is a need to give practical shape to the idea on a priority basis in view of its obvious advantages as it would serve as an ideal platform for businessmen to agitate their grievances and chairing of EDB meetings by the PM would mean instant decisions to remove bottlenecks in the export promotion. The increase in exports during the last two months is an indication that the potential is there, which can be exploited properly if due incentives are given to bring down the cost of production and right strategies are adopted for branding and marketing.
