- Advertisement -
ISLAMABAD, Nov 26 (APP):Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Wednesday stressed that exports must grow faster than imports to ease pressure on the economy and ensure long-term stability.
Addressing the Pakistan Business Council’s two-day Dialogue on the Economy (DoE), the SAPM shared key insights on Pakistan’s economic outlook.
Haroon Akhtar Khan said that no country can attain prosperity without industrial development, underscoring industry as the backbone of economic advancement.
He pointed out that the pace of exports should surpass imports; otherwise, the trade deficit continues to expand, exerting pressure on the economy.
To enhance exports, he stressed the importance of promoting manufacturing and local production, adding that producing essential materials such as steel within the country is vital to boost export potential.
He emphasized that before seeking foreign investment, Pakistan must first focus on strengthening domestic investment. Highlighting the need for rapid economic progress, he said that accelerating growth is crucial for generating employment opportunities.
Commending the Federal Board of Revenue (FBR), he noted that the institution has delivered outstanding performance in implementing reforms. He reiterated that Pakistan possesses the ability to grow using its own capabilities and national strength.
Haroon further revealed that a tax package as part of the upcoming industrial policy will be presented to the IMF. He concluded by adding that the forthcoming reform initiatives are aimed at achieving long-term and sustainable economic development.