The economic growth of Pakistan is immensely dependent on exports. The country is already facing fiscal deficit and economic deterioration over the past few years. The only way to get rid of this situation is to increase exports. Developed countries in the world implement proven strategies to enhance growth. The government of Pakistan has taken so many exciting initiatives to boost economic growth through exports.
The inauguration of the Special Investment Facilitation Council (SIFC) provides a great opportunity for foreign investors to invest in the exports of Pakistan. On the other hand, a trade portal in Pakistan renowned as Daatrade also plays a critical role in export growth. It allows exporters to list their products on the platform. Foreign importers will check the listing, and have a meeting with the exporter.
The government of Pakistan is also keen to promote exports by providing tax benefits to exporters. They help the exporters in the shape of tax subsidies and tax reliefs. Import-export portals in Pakistan can significantly increase exports. Have a look at the below-mentioned strategies and techniques to export business growth overall in the country.
The government should focus on the development and expansion of small and medium-sized industries. More than 3.3 million exports are carried out by the small and medium-sized industries. These exporters make up 30% of Pakistan’s GDP. The availability of easily accessible credit facilities can really boost the export sector. Focus on technical development and better trade margins can ensure the productivity in export sector.
The government of Pakistan should make arrangements with exporters to lower down imposed duty taxes. Most of the equipment and machinery used in the export sector is imported by domestic exporters. They have to pay heavy-duty fees and taxes on these. Implementation of new tax rules and regulations that benefit the exporters will surely enhance more and more trade opportunities. The less will be the duty & taxes on a particular export the more foreign investors will be able to get the opportunity to invest in the export sector in Pakistan.
Commerce and export import-related issues should be addressed in a single place. The government of Pakistan has established an authority to improve the overall trade-related activities. Recently Pakistani government has inaugurated a trade facilitation authority to overcome any hurdle in exports. Foreign investors want to make sure that they don’t face any kind of bottleneck while performing exports from Pakistan.
Pakistani government needs to overcome any potential threat that can affect the overall export productivity of the country. That can only be possible if accurate and reliable strategies are implemented to ensure the overall perfection and sustainability of the export sector. The cooperation between the exporters and the government can intensify trade opportunities. The trade portals in Pakistan will play a critical role in accomplishing expected goals connected with export targets. They act as the coordinator between importers and exporters.
