Business

PIAF For Reduction In The Cost Of Doing Business

LAHORE, (APP): (PIAF) on Saturday called upon the government to take concrete measures and formulate effective policies to reduce the cost of doing business so as to jack up the country’s exports.

PIAF Acting Chairman Tanveer Ahmed Sufi and Vice Chairman Khawaja Shazeb Akram stated here that value-added industry was contributing its role in national exports in addition to providing jobs to millions of workers, but increased cost of doing business was hurting the industry, which must be curtailed to get maximum share for economy.

Sufi highlighted that gas tariff per MMBTU in dollar terms in was US $ 3.35; India US $ 4.66 and Vietnam $ 6 but in Pakistan its US $7.59 (including Rs 200 GIDC-Gas Infrastructure Development Cess). He added that electricity tariff per kwh (kilowatt hour) in Bangladesh was US $ 0.09; India US $ 0.09 and Vietnam US $ 0.08, and in Pakistan its US $ 0.11. Therefore he demanded that Gas Tariff for export industry should be reduced at least by 10 percent less than of tariff of .

He emphasized that reduction in inputs was long-awaited demand of value-added industry to make Pakistani exports competitive in the international market because minimum wage in Pakistan was 111 percent higher than Bangladesh (Pakistan US $ 144 and Bangladesh US $68). Hence, 20 per cent reduction would make Pakistani exports viable to compete with regional competitors, he maintained. He said, “We must provide necessary incentives to the export sector in addition to introducing proactive export friendly policies.”

Tanveer Ahmed Sufi suggested that government should merge all taxes, duties and contribution etc and introduce one-window operation for onetime payment of all dues.

APP

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