ISLAMABAD: Adviser to Prime Minister on Commerce, textiles, investment and Industries Friday said that the priority of the government was to focus on export led growth aimed to achieve sustainable economic growth.
He said that industrial revival in the country was need of the hour as it would help increasing industrial growth and economic turnaround in the country.
He was addressing an Investment conference organized by Board of Investment (BOI) here. Dawood said “we are committed to decrease the trade deficit through industrial and exports’ growth”.
“Our imports are continuously decreasing for last four months which indicated that the country will not be facing any trade deficits in coming years.” He said that in past 10 years, local industrial sector were facing huge challenges, which harmed the industrial growth.
He said that industrial revival was the top priority of the government’s upcoming industrial policy to ensure economic growth and prosperity in the country.
He said that the government had prepared a new industrial policy which is divided in four portion including strategic industry, textile policy, leather and rice policy and old industries policy for coming five year.
He said “we are looking to value addition of textiles; Information Technology (IT) and tourism by introducing the innovation in these sectors.”
The adviser said the government had also introduced a new tariff policy for industrial growth and increasing the exports. He said “We get duty free access in potential Chinese market on 313 local items under the Free Trade Agreement (FTA) – II was recently signed between both of the countries.”
He said that Chinese investors were coming in local market for investment and they were willing to work with local business community through Joint Ventures (JVs).
“We are committed to improve our World Banks ‘Ease of Doing Business “ranking from 136 to under 100 for providing conducive business environment to foreign investment in the country,” he added.
Published On : 04-05-2019
Source : Business Recorder
