ISLAMABAD, Mar 14 (APP):A delegation of the Asian Development Bank led by Director General, Warner Liepach Thursday called on Prime Minister advisor on Commerce, Textile Industries and Production and Investment Abdul Razak Dawood .
Director General,ADB, Warner Liepach apprised the Adviser on Commerce about their ongoing technical assistance programmes in Pakistan, said a statement issued by Ministry of Commerce and textiles here.
He shared ADB’s future agenda for assistance particularly in trade and energy.
The Advisor shared the economic priorities of the government and the strategy to achieve them.
He informed that energy projects particularly renewable were very important for economic growth of the country.
Pakistan’s energy needs especially from the industry were on the rise and it was the priority of the government to provide affordable energy to the industry, he added.
The Advisor informed the delegation that the government of Pakistan was committed to reverse the trend of de-industrialization.
He added that newly formed National Tariff Policy was a central pillar for strategy to boost industrialization.
“The tariff regime is being revised to shift Pakistan from an import based consumption driven economy to an industrialization based economy,” he said.
He said that that Pakistan’s tariff structure had encouraged imports and discouraged local value addition and exports.
Tariff policy would reduce the cost of imported raw materials and intermediates for SMEs, the Advisor added.
“The Industrial policy is also in the final stages of formulation. The industrial policy is expected to improve the industrial base of the country resulting in better economic returns for the country.”
The Adviser highlighted that the government was working on SME policy.
He appreciated the support provided by ADB on different areas including trade.
Delegation of ADB calls on Commerce Advisor
