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ICMAP to carry out input costs study in Saarc states

MUZAFFAR QURESHI

KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMAP) is to carry out a comparative inputs costs study in Saarc countries in order to help Pakistani exporters make their products competitive in the world market.

The study, which will cover Pakistan, India, Sri Lanka, Nepal, Bhutan, Bangladesh and Maldives will be carried out in collaboration with Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

This was stated by ICMAP President M.H. Asif.

The study entitled 'Input Costs - an analysis of trends in Saarc region' will take six to nine months to complete. Rs 300,000 cost of the study will be equally shared by the two organisations.

The objectives of the study is to ascertain regional trends of input costs of industrial production and firm up recommendations for the Government of Pakistan to help in fine tuning its economic and industrial policies. The scope of study will include industrial units such as textile, cement, sugar, fertilizer and power industrial units.

To carry out the study research questionnaires will be mailed to major industrial units through ICMAP counterparts in respective countries of the Saarc region. The use of e-mail will be encouraged to reduce the cost of survey. The data so-collected will be analyzed by experts to formulate recommendations and strategy for the government. A senior research-oriented fellow member of ICMAP will be engaged for the study.

The major problem of Pakistani exporters these days is tremendous increase in their cost of production which has rendered their products incompetitive vis-a-vis products of their arch competitors India and Bangladesh. The study will help the Government take measures to compensate the high cost of production of Pakistani exporters which would enable them to compete their rivals in the export market.