The approval of the policy loan will be an indication to markets that global lenders are still engaged with Islamabad, although the government is currently sailing through choppy waters. The ADB has asked Pakistan to operationalise NSW - a company set up to perform tasks that are otherwise the responsibility of Pakistan Customs. The operationalisation of Export-Import Bank of Pakistan is also part of the ADB conditions and for this purpose the cabinet has recently approved a presidential ordinance. There has also been greater focus on reconstitution of the Pakistan National Accreditation board of directors to include professionals with sector expertise and scientific knowledge. One of the reasons for stagnant exports was heavy taxation on the corporate sector, which the ADB said made exports uncompetitive.

Source: The Express Tribune November 10, 2020 03:11 UTC