While addressing an exclusive meeting at Lahore Chamber of Commerce and Industry (LCCI), Federal Minister for Commerce & Textile Muhammd Pervaiz Malik said that concrete measures are being taken to boost the country’s exports, while focusing on new and unconventional avenues for Pakistani merchandise to yield the desired results.
Other meetings personals include were the LCCI President Malik Tahir Javaid, Commerce Secretary Javed, Trade Policy Director General Muhammad Ashraf and LCCI Secretary General Shahid Khalil. While addressing the meeting Pervaiz Malik said that role of the business community was important for economic stability of the country which was top priority of the present government that had opened all economic areas to achieve the goals of economic growth. He urged the private sector to become proactive to meet international standards and better marketing of products to compete effectively. He also assured that regulatory duty on steel would be abolished and second phase of FTA with China was deferred on demand of the Lahore Chamber.
On this occasion, LCCI President Malik Tahir Javaid recommended a value addition (through technological advancement and skilled labour) push, adding that Pakistan had to move from low value-added to technology-intensive high-value-added manufacturing in order to get its share in international trade, specifically in textile.
While on the other hand he also said that the government must facilitate this process through new industrial reforms and trade facilitations to promote exports of high value added and sophisticated products; Pakistan’s existing exports basket (product mix) and exports destinations needed to be enhanced, he further added. Proceeding further to his discussion he also said that the textile sector of Pakistan needs to get free or preferential market access in Africa, Latin America, Central Asian Republics (CARs), Russia and Australia etc. as African and Central Asian Republics (CARs) countries were emerging economies and there was immense potential of exports for Pakistan.
He also addressed other important matters and concerns of the textile industry of Pakistan and gave some serious suggestions on the matter. One of his core concerns also included the matter of energy prices for textile sector in Pakistan. He also suggested that Pakistan should also impose standardization requirement for discouraging unnecessary and sub-standard imports especially in food, textile, etc. and it could be made mandatory for the importer to inspect the factory at the expense of the exporter, which was a lengthy and costly procedure. In his concluding remarks he suggested some tips to achieve sustainable improvements in balanced trade and payments.
Efforts are on fire to boost exports including textile: Commerce Minister
