Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Saturday said that a common Expo Centre would be established in four cities of Punjab to boost the industrial sector.
A Common Expo Centre would be established for Sialkot, Gujrat, Wazirabad and Gujranwala. This was agreed, in principle, by the adviser during an official visit to the Gujrat Chamber of Commerce and Industries (GTCCI) on Saturday.
Appreciating the role of the industry in these cities and their contribution to the overall exports of Pakistan, Dawood assured full support to the exporters and industrialists. He stressed that to ensure sustainable growth in exports, we need to diversify our products and find new markets such as Africa and the Middle East.
During his visit, the adviser also discussed the development of fans, furniture and pottery industries with the representatives. The Pakistan Electric Fan Manufacturers Association officials shared different issues related to export of fans and discussed practical and constructive solutions for the development of industry and resolution of problems. The association members also appreciated the Ministry of Commerce for various measures and interventions to boost exports and promote the engineering sector, especially the recent move for revision of rates of duty drawbacks for electric fans.
In the meetings with industry representatives, the adviser said that Pakistan has been able to successfully deal with the health and economic challenges posed by the Covid-19 pandemic because of the effective coordination between the federal and provincial authorities, as well as the private sector.
Dawood underscored that due to these joint efforts and proper implementation of SOPs, Pakistan was able to bounce back quickly, in terms of exports, as compared to its regional competitors.
The commerce adviser also informed the industry officials of the various cost-cutting measures, like tariff rationalisation on raw materials and intermediaries, taken by the Ministry of Commerce, to enable the industry to manufacture their products on globally competitive rates and ensure value-addition.
He reiterated that these measures are essential for strengthening the economy by promoting ‘Make in Pakistan’, export-led growth and import substitution. The advisor added that the government has already done tariff rationalisation for 41% of the raw materials and intermediaries, while the next measures are also under consideration for different sectors, including chemicals, engineering, pharmaceuticals, leather, food processing and textiles, under the three years tariff rationalisation plan of the Ministry of Commerce.
from Business News and Updates from the World of Commerce- eTribune https://ift.tt/3iOknNI
No comments:
Post a Comment