KATI sees extending trade deficit as a challenge for industry

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Korangi Association of Trade & Industry (KATI) shows concern over expending trade deficit in a joint statement released by President Masood Naqi, Senior Vice President Ghazafer Ali Khan and vice president Umer Rehan. ” Trade deficit of country extended to 56 pc which is a great matter of concern, to prevent this widening gap reforms in policy and administrative measures are need of time” the statement said.

President of KATI Masood Naqi said that delayed payment of refunds would be the first step towards right direction. He said that financial assistance for betterment in production, technology up gradation, branding, certifications and vast marketing was assured in trade policy, but these prospects weren’t fulfilled due to some policy loopholes too. He also noted that there are many concern regarding Free Trade Agreements (FTAs) those weren’t addressed fairly. Masood Naqi said that measures to low production cost of industry, ensure higher standards and to make a comprehensive marketing strategy to introduce Pakistani products should be taken immediately.

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