LAHORE – Trade Development Authority of Pakistan and the Lahore Chamber of Commerce & Industry on Monday discussed various models and modalities to increase exports.
TDAP CEO Faiz Ahmed Chadhar stated that Pakistan must innovate in its products and markets. He said that the government has taken steps to reduce the cost of doing business. These include maintaining a stable exchange rate over the last three years, reducing electricity prices, and lowering the policy rate.
Faiz Ahmed said that although Pakistan’s rates are still higher than the region’s, they have dropped significantly from last year. He said that due to a shortage of cotton, the textile industry has to rely on imports, yet textile exports have crossed 18 billion dollars. He stated that Pakistani businessmen enjoy a strong reputation globally. He said the government is now prioritising engineering, IT, pharmaceuticals, and value-added agriculture.
The engineering sector is receiving large orders from the US, Europe, Africa, and the Gulf. The pharmaceutical sector has also achieved significant progress, with seven Pakistani companies now registered in the EU and the US.
He added that the sports goods, surgical instruments, carpets, and housewares sectors are also being revived. TDAP has promoted Pakistani products through “Made in Pakistan” exhibitions in Africa, the Gulf, and other regions.
Regarding agricultural and food exports, he said Pakistan has maintained 7.5 billion dollars in exports through value addition. The participation of 850 foreign buyers in food and agriculture exhibitions shows a major improvement in Pakistan’s packaging, processing, and quality. He said seafood exports are moving from low-value to high-value products. Meat exports are currently 500 million dollars, but can reach 2 billion dollars with better certification and protocols, especially in countries like Malaysia.
LCCI President Faheem-ur-Rehman Saigol urged promoting goods with the right strategy in global markets, especially ASEAN and African countries, where there are huge opportunities. He also highlighted potential in sectors like minerals, tourism, medical tourism, and other emerging areas. He said that exporters around the world are given subsidies, easy financing, and incentives, while Pakistani exporters lack a level playing field.
The LCCI President expressed concern over not fully benefiting from the US trade tariff facilities. He said government-led trade delegations should be sent worldwide to effectively promote Pakistan’s value-added products. He added that high interest rates and expensive electricity are making it difficult for industries to operate.
Faheem-ur-Rehman Saigol said that Pakistan’s youth is the country’s biggest strength. If the youth are trained with international-level skills and sent abroad, it will not only create employment opportunities for them but also increase foreign remittances for the country.
