The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for swift export incentivization to secure trade balance, current account stability

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Tuesday appealed for sustainable measures under a comprehensive fast-tracked strategy to incentivize export sectors for attaining balance in external trade and stabilizing the current account

KARACHI, (APP - UrduPoint / Pakistan Point News - 5th May, 2026) The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Tuesday appealed for sustainable measures under a comprehensive fast-tracked strategy to incentivize export sectors for attaining balance in external trade and stabilizing the current account.

President FPCCI Atif Ikram Sheikh, in a statement issued here, highlighted the widening of trade deficit during the first 10 months of the current fiscal year and emphasized that a comprehensive and fast-tracked strategy to aggressively incentivize the export sectors is the only sustainable solution to stabilize the nation's external account and protect foreign exchange reserves.

Analyzing the latest trade figures released by the Pakistan Bureau of Statistics (PBS), he said that Pakistan’s import bill climbed by nearly 7% while exports contracted by 6.25% during July to April FY26.

Senior Vice President FPCCI, Saquib Fayyaz Magoon acknowledged that the trade deficit in the services sector had narrowed during July-March FY26, backed by a healthy 17% rise in services exports to $7.35 billion. But merchandise exports remain the core engine of Pakistan's economy, he said and stressed the need of addressing the structural export weaknesses to curtail the trade deficit.

The FPCCI advocated for an immediate pivot toward export-led economic growth to maintain balance of payments, Vice President FPCCI and Regional Chairman Sindh, Abdul Mohamin Khan reiterated.

“We have outlined a set of critical, data-driven interventions required from the government- primarily focusing on reducing the crippling cost of industrial production,” he said and stressed on rationalization of electricity and gas tariffs for export-oriented industries to bring them at par with regional competitors, alongside a significant reduction in the policy rate to spur industrial borrowing and capacity expansion.

The FPCCI also called for swift disbursement of all pending export rebates, introduction of targeted tax incentives for IT, engineering goods, pharmaceuticals and other non-traditional export sectors, and aggressive diplomatic efforts to secure zero-duty access or Free Trade Agreements with major global markets, the statement concluded.