Strategic export target for this fiscal yet to be fixed
Wednesday, 19 September 2007
Naim-Ul-Karim
The country's strategic export target for the current fiscal is yet to be set even after the expiry of more than two months following the announcement of national budget for the financial year (FY) 2007-08.
The state owned agency -- Export Promotion Bureau (EPB) - could not release the figures on export performance for the first two months --July and August-of the fiscal due to non-fixation of annual target.
"Preparation of export performance data for the last two months was not possible due to non-availability of strategic export target," a high official source said.
Sources at different chambers and associations said they are not aware of the position of export of the affiliated organisations as there is no data available from the state agency.
Mir Nasir Hossain, president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said: "It is important to fix target for promotion of business, especially to motivate those who are engaged in export."
When contacted, Faridul Hasan, director general of EPB, said: "Fixation of the country's export target takes a long process."
He said the ministry of commerce has already arranged series of meetings with all stakeholders concerned to determine a pragmatic export target for the current fiscal.
Asked about the delay in setting the export target, a ministry source said the EPB, at the initial stage, has sent a proposal for setting export target at $13.5 billion, but the ministry asked the EPB to revise it upward following a good export trend in the last fiscal.
The country fetched $12.18 billion against the strategic target of $12.5 billion in fiscal 2006-07.
A source close to the ministry concerned said the government is expected to set export target at over $14 billion for the current fiscal.
"We hope the government will set export target for the current fiscal by the end of this month", he said, adding the final proposal is awaiting approval of Finance and Commerce Adviser AB Mirza Azizul Islam.
The country's strategic export target for the current fiscal is yet to be set even after the expiry of more than two months following the announcement of national budget for the financial year (FY) 2007-08.
The state owned agency -- Export Promotion Bureau (EPB) - could not release the figures on export performance for the first two months --July and August-of the fiscal due to non-fixation of annual target.
"Preparation of export performance data for the last two months was not possible due to non-availability of strategic export target," a high official source said.
Sources at different chambers and associations said they are not aware of the position of export of the affiliated organisations as there is no data available from the state agency.
Mir Nasir Hossain, president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said: "It is important to fix target for promotion of business, especially to motivate those who are engaged in export."
When contacted, Faridul Hasan, director general of EPB, said: "Fixation of the country's export target takes a long process."
He said the ministry of commerce has already arranged series of meetings with all stakeholders concerned to determine a pragmatic export target for the current fiscal.
Asked about the delay in setting the export target, a ministry source said the EPB, at the initial stage, has sent a proposal for setting export target at $13.5 billion, but the ministry asked the EPB to revise it upward following a good export trend in the last fiscal.
The country fetched $12.18 billion against the strategic target of $12.5 billion in fiscal 2006-07.
A source close to the ministry concerned said the government is expected to set export target at over $14 billion for the current fiscal.
"We hope the government will set export target for the current fiscal by the end of this month", he said, adding the final proposal is awaiting approval of Finance and Commerce Adviser AB Mirza Azizul Islam.