Page 8 - CMA Journal (Sep-Oct 2025)

Exclusive Interview

At the same time, productivity levels remain low and
technological upgrading has been slow, limiting our
ability to move into higher value-added production. Creating sector-specific industrial
Pakistan’s integration into global value chains also clusters can make a huge
remains limited, which restricts export diversification
and opportunities for growth. difference. Imagine zones where
Addressing these issues requires comprehensive reforms textiles, engineering, and
that strengthen local production, reduce costs, enhance agro-processing industries have
technological capacity, and foster deeper participation
in international trade networks. Only then can the trade shared infrastructure, R&D
deficit be managed sustainably and economic growth be facilities, and technology transfer
supported.
centers. Such clusters can foster
ICMA: With exports slowing and imports rising, what
immediate policy actions can help restore balance innovation and collaboration in a
and drive industrial growth? way isolated firms simply cannot
Dr. Gohar Ejaz: If we want to turn the tide on our trade
deficit and give our industries a real boost, Pakistan
needs to embrace an export-led growth approach with
structure as intended. Reducing average tariffs from
clarity and purpose. We must rethink import policies to
20.19 percent to 9.7 percent will make raw materials and
curb non-essential consumption, and at the same time,
capital goods more affordable, giving our manufacturers
craft trade and export frameworks that genuinely
a real chance to compete in international markets.
support businesses rather than just adding another layer
of paperwork. Simplifying regulations and cutting I also see the focus on transparency as a big plus. Bringing
unnecessary compliance burdens will make it far easier down tariff categories from five to four makes the system
for industries to thrive. far more predictable and business-friendly, which is
exactly what investors and exporters need. While there
Reducing the cost of doing business is another urgent
might be an initial revenue loss of around Rs. 500 billion,
priority. This means rationalizing taxes, reforming energy
the policy expects that increased economic activity will
tariffs, and improving logistics so that our companies can
more than make up for it, leading to a positive revenue
compete fairly on the global stage. Policies need to be
impact of seven to nine percent.
grounded in data, using real analysis to spot growth
opportunities, identify gaps, and focus on sectors with What excites me most is the institutional side of things.
true export potential. Expanding into new and The Tariff Policy Board under the Ministry of Commerce
underexplored markets is crucial, and reviewing trade will ensure that tariff decisions are evidence-based and
agreements with a practical eye can ensure they actually regularly monitored. To me, this policy is more than just
benefit Pakistan. numbers; it’s a clear signal that Pakistan is serious about
building a competitive, transparent, and investment-
Above all, we need to listen to those on the ground. By
friendly industrial environment that can drive exports
incorporating insights from industry, we can design
and sustainable growth.
policies that truly foster industrial growth, attract
investment, and position Pakistan as a credible player in ICMA: You have often highlighted that Pakistan’s
global trade. For me, this is not just about numbers on a exports lack value addition and diversification. What
balance sheet — it is about creating an environment practical steps can help industries move up the value
where our businesses can grow, innovate, and compete chain?
internationally.
Dr. Gohar Ejaz: If we want our exports to truly compete
ICMA: The new National Tariff Policy 2025–30 has on the global stage, we need a strategy that combines
drawn much attention. How do you see it shaping technology, skills, infrastructure, and smart policies. One
Pakistan’s industrial competitiveness and export of the first steps is supporting technology upgrading.
potential? Providing fiscal incentives, research grants, and easier
access to modern machinery can help our manufacturers
Dr. Gohar Ejaz: The National Tariff Policy 2025–30 is a
adopt advanced processes and produce higher-value
promising move that could really change the way our
goods. At the same time, investing in technical and
industries operate. The policy projects export growth of
vocational training is critical so that our workforce can
10 to 14 percent, which is ambitious but achievable if we
handle sophisticated production and consistently meet
manage to lower input costs and simplify the tariff
international quality standards.
6 ICMA’s Chartered Management Accountant, Sep-Oct 2025