ISLAMABAD – Prime Minister’s Trade and Investment Advisor Abdul Razzaq Dawood said on Friday that Pakistan is heading for rapid development through correct and sound trade and economic policies.
Engineering and steel products have enormous potential to become Pakistan’s biggest exports, as do other most important sectors, especially textiles. He expressed these views during a meeting with business circles in Gujarnwala and Wazirabad, according to a press release published here. “We need economic sustainability for at least the next 10 to 15 years to become a major export hub on a global scale,” he said. The adviser said the government is committed to strengthening regional trade to increase economic and trade integration in the region.
As soon as the situation in Afghanistan clears up, “we will be able to export many Pakistani products to Tajikistan, Uzbekistan and other Central Asian states.” he said. Razak Dawood said that in order to increase the country’s exports, the government has entered into various trade agreements with various countries.
The government was trying to increase the country’s exports, while reducing imports, he said.
He said the government was aware of the problems in the steel industry. The advisor said, “I wish there was no difference between the tariffs of industrial and commercial importers and the import of raw materials.
Therefore, the Ministry of Commerce and FBR are working together to reduce the tariffs.
He said Gujranwala has good potential in the industry, especially cutlery projects, so the focus should be on exporting cutlery. Earlier, House Speaker Umar Ashraf Mughal, while delivering a keynote guest speech, explained the industrial importance of Gujranwala.
On the occasion, he said that the trade adviser undoubtedly pursues progressive trade policies to solve the problems in the industry.