Aziz Memon, President of English Speaking Union of Pakistan (ESUP) welcomed secretary Trade Development Authority of Pakistan (TDAP) to a session held regarding activities of the TDAP. He gave a resume of the worthy contribution of Ahsan Ali Mangi, Secretary TDAP and thanked him for coming over to give a talk on ‘How to Create Exports Culture.’
During his talk Ahsan Ali Mangi emphasised focusing on non-traditional export sectors and diversification as well as innovations in traditional ones for sustained increase to exports of the country. TDAP secretary said that the basic goal of a state is to ensure economic development and creation of wealth. Different models were being used in the world on how to create national wealth both at individual and national level and one successful model was the exports-led growth. He cited the example of Japan that penetrated and then captured big share of world markets particularly in machinery and electronics.
Japan was followed by China that came up with a different economic model and beat many advanced countries in the world trade. For sustained economic growth and maintaining their share in international market the advanced countries shifted their manufacturing facilities to the developing countries to benefit from low cost labour for becoming cost competitive.
He regretted that Pakistan’s annual exports were only $21 billion whereas with almost same environment and issues, Bangladesh’s goods exports figured $40 billion annually. In Pakistan, however, information technology sector was progressing well and is currently earning one billion dollars that have been injected into the country’s economy which was documented. Moreover, he added, more than $3billion had been injected into the economy over last couple of years.
He said that small and medium enterprises were the engine for economic growth in a country but there was not a single company available in the country to offer collateral to SMEs for getting finance for their expansion. He said Pakistan’s economy was over-regulated which had proved a setback to economic growth and increase in trade. He mentioned that the country had only 17,000 exporters, of them only 600 had potential to export up to $1 million.
Ahsan Ali Mangi mentioned that as a nation we did not address the real issues for sustained economic growth and increase in the exports. The focus was needed on pursuing long-term national interests. Moreover, there was also need to work for import substitutes.
ESUP Vice President and former CEO of TDAP , Tariq Ikram shared his experience when he headed TDAP during General (Retd) Musharraf’s government and claimed that the country’s export was significantly increased in that period. TW