'Amid rising exports, investors look to invest in Pakistan'

Economy will take time to enter sustainable mode, says Abdul Razak Dawood


Our Correspondent November 14, 2018
Pakistan is working on free trade agreements with different countries, especially China, Dawood said. PHOTO: FILE

LAHORE: Pakistan’s exports are on a rise and investors are looking towards investing in the country, said Adviser to Prime Minister for Commerce, Textile, Industry and Investments Abdul Razak Dawood.

Addressing the first international conference in Lahore, he said, “It will take some time before Pakistan’s economy can enter a sustainable mode. However, the world has started to see Pakistan positively and a number of export orders are on a rise.”

The event was jointly organised by Intercem and All Pakistan Cement Manufacturers Association (APCMA). Dawood said that participation of Intercem and delegations from 20 countries in the cement conference is the signal investors are now looking towards Pakistan.

Pakistan is working on free trade agreements (FTAs) with different countries, especially China, he said, adding, “We are hopeful to complete the second FTA with China by June next year.”

The government is hopeful of proceeding with the International Monetary Fund (IMF) in a smoother way now, he added.

The PM adviser emphasised the need to focus on ‘Made in Pakistan’ culture as it will make the country self-sufficient. “Pakistanis should work on increasing export volume as it is the only method to attain a sustainable economy,” he said.

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“We are trying to give a level playing field to all export-oriented industries by providing them energy at lower tariffs,” he remarked, adding that different export clusters in Pakistan, especially in Punjab, will become competitive with the rest of the world.

“We, in the Council of Common Interests, will try to develop an export-friendly strategy with all provincial chief ministers,” Dawood assured.

Talking about the cement sector, the adviser to PM said the cement sector is playing a pivotal role in infrastructural development of Pakistan, while the China-Pakistan Economic Corridor (CPEC) led projects have further fuelled the sector’s performance and the industry’s output at a record level.

He said that the cement sector is playing a key role in creating employment opportunities and infrastructural developments.

“Currently six new cement plants in Pakistan are underway and it is expected that this sector will push its export figures to $1-billion mark soon, which currently stands at $600 million,” he added.

Published in The Express Tribune, November 14th, 2018.

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