Improve quality and competitiveness, says commerce minister

Private sector needs to change its strategy to help boost exports

ISLAMABAD: The private sector should focus on improving competitiveness and quality of products to enhance Pakistan's exports, said Minister for Commerce Pervaiz Malik.

Addressing the business community, after inaugurating the International Trade and Research Centre at the Islamabad Chamber of Commerce and Industry (ICCI) on Friday, he said, though Pakistan's exports are now improving, the country is still facing a deficit of $3 billion every month.



"To make Pakistan a strong economy, rapid increase in exports is vital," he added. He said the private sector should change its strategy and focus on value-added products that would give a significant boost to exports.

He said the government was revising free trade agreements with other countries including China to further improve Pakistan's trade situation.

Malik said that the cost of production in Pakistan is high, but the government was making efforts to bring down electricity tariffs in order to reduce production cost.



The minister said that the Strategic Trade Policy Framework (STPF) 2015-18 was ending on June 30 this year, adding that for the next five years, strengthening trade related institutions and facilitating trade promotion would be the key focus.

Also speaking on the occasion, ICCI President Sheikh Amir Waheed said the business community was making strong efforts to promote Pakistan's trade and exports. He stressed that the government should fully support them in such matters.



Highlighting objectives of the International Trade and Research Centre, he said four new cells have been set up. 

Published in The Express Tribune, May 26^th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.