By Commerce Reporter
LAHORE: Faiz Ahmad Chadhar, CEO, TDAP has declared that the role of TDAP will not be limited to organizing delegations and exhibitions but will focus on comprehensive export development and investment facilitation.
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He emphasized that Pakistan’s business community will experience a transformation in TDAP working, with a shift towards long-term facilitation and strategic trade and investment development.
Faiz expressed his views while talking to leading textile exporters on his maiden visit to APTMA on Friday along with Ms. Rafia Syed, Director General TDAP Punjab and other senior officers. Mr. Kamran Arshad, Chairman; Mr. Asad Shafi, Chairman North; Mr. Raza Baqir, Secretary General of the Association and senior members of APTMA, welcomed him on his visit to APTMA. Dr. Gohar Ejaz, Former Federal Minister for Commerce, Industries and Interior was also present.
Faiz stated that TDAP serves as the marketing and facilitation arm of the government and will become the strongest advocate for the business community at both federal and provincial levels. Regardless of the issue or department involved, TDAP will stand at the forefront to support and facilitate businesses, ensuring that exporters and investors receive the assistance they need to succeed in international markets.
Faiz added that TDAP will focus on key sectors such as Textiles, Agro-food, Leather, Textile Garments, Petroleum, and Renewable Energy, actively working to attract both foreign and local investment into these industries. He highlighted that the country has Trade & Investment Officers (TIOs) stationed in over 40 locations globally and will leverage this network to create new opportunities for Pakistani businesses in international markets.
Faiz highlighted structural changes in Pakistan’s trade diplomacy, with commercial counsellors and consuls-general now re-designated as trade and investment officers, subject to quarterly performance reviews. He warmed that underperforming officers would face recall.
Speaking on this occasion Dr. Gohar Ejaz, former Minister stated that gravest problems of the industry is exorbitant energy cost. He talked of Pakistan brand introductions overseas to fetch highest value as currently Pakistani products are being retailed overseas at five times higher price. He added that Pakistan should have at least 10% annual growth in exports to get rid of foreign loans. Gohar felicitated Faiz on assumption of his office and hoped that his wisdom coupled with his vast foreign and inland experience would remarkably give boost to exports. He added that role of TDAP is to promote whole value added chain and facilitate all levels of supply chain to ensure quality of products.
Earlier Mr. Kamran Arshad, Chairman APTMA highlighted the strengths and potential of Pakistan’s textile industry, noting that the sector is on an upward trajectory with an ambitious export target of $50 billion within the next five years. He thanked the government for creating an enabling environment for the growth of the textile industry, which has led to increased exports and valuable foreign exchange earnings for the country.
Mr. Kamran Arshad also pointed out several challenges affecting the industry. He noted that high energy costs, withdrawal of zero-rating on local supplies to exporters under EFS, non-payment of deferred Sales Tax Refunds, regressive income tax regime, and high interest rates are hindering smooth flow of manufacturing and exports.
He further stated that local cotton production has declined from a peak of 14 million bales to 5.5 million bales this year, leading to various problems for the textile industry and an increasing import bill. Additionally, exorbitantly high import tariffs and anti-dumping duties on PSF leave no room for the export of polyester products.
To upsurge exports, Chairman APTMA proposed immediate restoration of Regionally Competitive Energy Tariff (RCET) of ¢9/KWH for electricity and $9/MMBTU for gas. He requested for zero rating of export oriented sector or alternately introducing graduated tax regime with 5% at initial stage, 10% at intermediary stage and standard rate for end product.
Kamran demanded even playing field for imports and local supplies under Export Facilitation Scheme (EFS) and drastically slashing interest rates to keep them at par with rate of inflation.
Senior APTMA members speaking on the occasion proposed immediate payment of pending sales tax refunds, diversification of export markets, development of E-markets, Capacity building on EU Digital Product Passport, EU Green Deal Regulations, technology adoption and reverting back to the same income tax regime as existed before the current year budget.
CEO TDAP assured exporters of his maximum efforts to resolve their issues relating to any department in the country.
