Dr. Yasmin Raashid, advisor to PTI Chairman said it seems Sharif Brothers have decided to give up efforts to boost country???s exports and are only relaying on IMF loans and foreign remittances, as the merchandise exports dropped by 13.81 per cent to USD 8.541 billion during the first five months of the current fiscal year she added. She said as result of failed and flawed export policy trade deficit has risen to USD 10 billion during the first five months of the ongoing fiscal year. The situation is expected to worsen further as winter season has started and the gas supply to the industries would be cut off thus there would be no production and no exports she added. She said PML-N government was not serious about dwindling exports. Since Sharif Brothers took the government in 2013 the exports continue to fall as they have miserably failed to give an export-oriented policy to the sector, she added. She said seriousness of PML-N government to boost the exports could be judged from the fact that textile exports accounts for 50 percent of country???s total exports but unfortunately due to irrational policies of government the textile industry is on the verge of collapse. Textile industry is crying for relief package from the past two and half years yet they have not be been given a single penny while last week PML-N government granted subsidy of Rs6.5 billion to the prosperous sugar industry she added.
PTI Information Secretary Andleeb Abbas said exports are on a downward trajectory since PML-N took the reins and Pakistan has lost market share in most of its export markets. Bangladesh with much lesser resources has not just overtaken Pakistan in exports, but has done so at a rapid pace by offering incentives to its exporters she added. She said but here in Pakistan to secure the loans from IMF, PML-N government has imposed additional 40 billion taxes. Sharif Family businesses are prospering while country???s industry is on downward spiral she added. She said PML-N government is focusing on privatization, increasing its revenue through indirect taxes and relying on loans she added. Exports should be the area where the country makes its money not the loans but unfortunately that does not seem to be happening she added. She said it is astonishing to see that how PML-N government can celebrate rising foreign exchange reserves which stood at USD 20.451 billion through massive borrowing as the external debt has crossed USD65 billion. On the other hand due to domestic borrowing by government local businesses are experiencing crowding out factor she added. She said for government it must be a cause of concern to see declining trends of exports but it is least bothered to look after the gloomy sate of country???s economy, which can default any time if IMF calls off its Extended Fund Facility arrangement. She demanded that the government give special gas supply and subsidy to the exporters to enable them to compete with the neighboring countries.