LCCI rejects govt’s focus on zero-rated export sectors

Lasbela Chamber of Commerce and Industry (LCCI) President Ismail Suttur has said that the exclusive emphasis on only five zero-rated export sectors and the prioritisation of policies are significant obstacles hindering economic and industrial development. In a statement issued on Tuesday, the resident LCCI rejected the government’s policy of prioritising only five sectors for the benefits aimed at increasing exports. He contends that the government’s rationale is to exclusively concentrate on five sectors of Pakistan’s export industry, namely textiles, carpets, sports goods, surgical, and the leather industry. These specific sectors enjoy subsidised electricity and gas rates along with lower duties and taxes. In contrast, the remaining manufacturing divisions receive no subsidies to enhance their competitiveness in the international market, despite outperforming the five zero-rated export sectors, he added.