Business

‘Pakistan needs to enhance potential in sectors other than textile’

Contrary to expectations, it has resulted in only a marginal improvement in Pakistan’s exports to EU

Our Correspondent September 20, 2018

Representational image. PHOTO:AFP

LAHORE: Textile is the major export-oriented industry of Pakistan but the country needs to enhance the potential in other sectors as well, said Hans-Olaf Henkel, head of a six-member delegation of the European Conservative and Reformists Group of Parliamentarians.

The delegation was visiting the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday to gain a better understanding of the latest economic and political developments in Pakistan.

Henkel and LCCI President Malik Tahir Javaid discussed in detail the ongoing economic scenario, GSP Plus status for Pakistan and trade and economic ties with the EU.

“We see things are improving and getting better as the security condition has improved and we now feel safe here,” said the European official. Also speaking on the occasion, Javaid said Pakistan had been awarded the GSP Plus status in 2013. Contrary to expectations, it has resulted in only a marginal improvement in Pakistan’s exports to the EU.

Published in The Express Tribune, September 20^th, 2018.

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COMMENTS (1)

Saeed | 6 years ago | Reply Pakistan has experienced lot of limitations in near past. Power failures and load shedding. Industries will prosper if the raw materials and other resources are available frequently. If any product (like electricity) is in demand then why can't we produce and sell that to the consumers and make good profits? Government should do research for the scope where our products can be sold and inform to the industry which can cope with the requirement. This information should be in detail that new investors can think of adopting that.

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