Razak supports “Make in Pakistan” initiative led economic growth
File Photo

LAHORE, Jan 28 (APP):Advisor to the Prime Minister for Commerce, Textile and Industry Abdul Razak Dawood Monday said exports of the country were being increased due to economic policies of the incumbent government.

Addressing the inaugural ceremony of the 5th Pakistan Mega Leather Show organised by the manufacturers of leather products here at Expo Centre, he said the imports of the country had been decreased.
“Benefits of devaluation of the currency has been kicked off and export has been increased,” he added.

He said that leather industry was an important business sector of the country which had great share in the export.”We are in safer zone of current deficit now as compared to July last year,” he said. The advisor said that he had informed the previous government at that time when the country was facing de-industrialization and was becoming a consumer economy, but that government did not take it serious.

“However, we are looking the matter closely,” he added. He assured the business community that bad economy condition was on reverse now.
“Our industry has started grooming,” he added. Dawood also assured the industrialists that the government would never take any decision without consultation of the business community.

“In the current mid-term budget, several measures have been taken by the government for correcting the wrong decisions made in the past,” he added.

“We will bring down the cost of business besides introducing reforms for ease in doing business,” he said.He said the government had talked to the regional countries for free market access and Indonesia had given
duty free access to its market on 20 Pakistani items like rice, leather and textile.

“The government has also reduced the gas and electricity tariff for industry which will positively impact the production and exports,” he said.
Dawood said that Pakistan was going to open its airports for several international airways as British Airways was initiating three flights per week from Islamabad soon.

He expressed the hope that more big airlines would soon start their operation from Pakistan.

He assured the business community that he was representative of the businessmen in the government to put their point of view before the highups.

Regarding the provision of level playing field for the Pakistani industry with the other regional countries, he said the government had taken various steps for this purpose and tax/duties structure and tariff was being revised chapter by chapter.

He said that ease for business community was priority of the government and the authorities concerned had been given deadline of March 31 to take steps in that regard.

“Pakistan falls on 136th number in ease in doing business but I have given the task to the institutions to improve it by up to 100 number,” he added.
He said that Federal Board of Revenue (FBR) had been asked to improve and a deadline had also been given for this purpose.

The Advisor said that the government was struggling for Free Trade Agreements (FTAs) with several countries and soon an FTA would be signed with China as second phase of dialogue on this issue would soon be held.

He said that budget 2019-20 would express a clear picture of the steps taken by the government for revival of economy in the country.
“The economy would be turned around till June,” he hoped.
He also invited foreigners to invest in the country and said that the Pakistan government would provide all kinds of
support to them.

Later, talking to media, he expressed his hope that trade relations with the United States would take some time to improve and after sometimes and an FTA could be signed between the US and Pakistan.
To a question, he said that export with Afghanistan would also be increased as bilateral relations had been improved.

To another question about trade with India, he expressed hope that it could be improved after elections in the neighbouring country, however, he said that Pakistan always wished to have good trade relations with its neighbours.

Regarding a question about security for businessmen, he said that Prime Minister Imran Khan had introduced a liberal visa policy for foreigners and when they come to Pakistan, they would see the system and security.
“They will bring investment in Pakistan after that,” he added.
On the issue of relief to the people, he said that after economy revival, job would be created and it would be the best relief to the masses.