ICCI for greater market access to shore up flood hit economy

  • August 24, 2010
Islamabad Chamber of Commerce & Industry (ICCI) has called upon the government to take initiatives for seeking greater access for its exports to USA and Europe markets for shoring up the sliding economy in the wake of the worst floods in the country’s history.

Mr.Zahid Maqbool, President, ICCI said that the country has suffered immense economic losses due to recent floods. He said one viable option for government is to seek at least 10-year preferential market access from USA and Europe, especially for its textile exports as these two countries are the largest importers of Pakistani textiles.

He said these countries had given preferential treatment to Sri Lankan textile exports in the wake of destruction from tsunami to help it revive its economy. He said the floods have also devastated Pakistan’s economy and displaced more than 20 million people across the country.

He said Pakistan should also be given preferential treatment for its exports so that it could cope with the economic pressures caused by the recent unprecedented natural calamity.

Mr.Zahid Maqbool said that Pakistan faces huge economic challenges after the devastating floods that have wiped out farmland and ruined infrastructure including roads, bridges, railways tracks, industrial and power plants etc. which could set back growth of our economy for years.

He said this is the high time that big markets should come forward to help Pakistan in reviving its fragile economy.

He said the only way for sustainable rehabilitation of the flood affected people is through creation of new jobs, which will not be possible unless the world allowed greater access to Pakistan’s exports.