Gohar Ejaz expresses concern over drop in exports

Former Caretaker Minister Gohar Ejaz on Saturday expressed serious concern over the decrease in exports, saying “expensive” dollar has failed to spurt exports, reported 24NewsHD TV channel.

In a statement, Gohar Ejaz said that from 2018 to 2022, the dollar increased by Rs140 and reached Rs280, and Pakistan’s exports fell to $27 billion from $29 billion.

Gohar Ejaz said that policy-makers are a big hurdle in the way of increasing exports. He said that most of industrial production relies on raw material and due to a rise in dollar price, the cost of industrial production will also increase.

Gohar Ejaz said changes in policy-making are a big hurdle for the enhancement of exports. Pakistan’s 60 percent exports depended on textiles, and IT, pharma, and engineering sectors are being ignored, he added.

Exports have been facing challenges of refunds and duty drawbacks for months, he said and added delays in refunds and duty drawbacks is creating hurdles for exporters. Logistics and customs issues also delayed the deliveries.

Gohar Ejaz said that low-cost energy and continuity in industrial policies and immediate refunds are need for the hour.

He said that the devaluation of the rupee is affecting the cost of production. Pakistan is losing assessment in the international market due to the delay in the supply chain, he added.

Higher electricity and gas rates are a main hurdle on way of progress for Pakistan, he said and added, Prices of gas and electricity are much higher compared with other countries.

Reporter: Waqas Azeem