Cost of production will reduce by increasing exports: Dr Shahbaz

KARACHI: Veteran economists and a Professor of COMSAT University Dr Muhammad Shahbaz has said despite every effort made by the present government to boost up Pakistan’s exports, still not received any success to achieve our target in the field economy.

While expressing his views at Mohammad Ali Jinnah University’s (MAJU) education radio station FM 97.6, he said the basic reason for failure is as a result of the continuous increase in petrol, gas, and electricity our cost of production is on the higher side and we are unable to boost up our exports.

He said that Pakistan always ignored the issue of better relations with our neighboring countries such as Korea, Thailand, Vietnam, India, Bangladeh, Philippine, Malaysia, Iran, and Turkey. He said that we never made any attempt to increase our exports.

 Dr. Shahbaz who is a well-known researcher on an international level is also a research fellow of Cambridge University, England and Beijing Institute of Technology, China said that it is the time for Pakistani business community to keep an eye on international markets requirement for the increase in our export through hard work for better marketing tactics.

 He told that Pakistan is known as one of the best Basmati rice producer countries globally but due to our poor marketing abilities, India is purchasing all our Basmati rice from Dubai market and exporting it declaring as Indian product by changing packaging and label to earn huge foreign exchange which needs Pakistani exporters’ attention.

He further told Pakistan is the fifth larger producer of the world in dairy farming which also needs our exporters’ attention to boost up our exports in this sector.

 He asked the Pakistani business community to find new buyers of our products in the international market for which we have to improve our marketing capabilities.

He emphasized without overcoming the power and gas load shedding problem, Pakistan may not achieve our goals of economic development and prosperity.