Govt creates economic outreach roadmap

PM aide says efforts under way to identify Pakistan’s comparative advantage

The National Security Division has created an economic outreach roadmap for economic diplomacy, which will be implemented through different ministries, said Special Assistant to Prime Minister on National Security Dr Moeed Yusuf.

Being the focal person of the economic outreach programme, Yusuf said the mapping exercise of ministries and government organisations had been initiated by the division.

In a meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar on Wednesday, Yusuf elaborated that the mapping exercise would identify Pakistan’s comparative advantage in priority countries. He also presented a model that would develop Pakistan’s narrative.

He told the FPCCI president that the economic outreach programme would engage a vast representation of stakeholders while national security would be the focal point.

He added that to expand Pakistan’s trade in goods and services, his team had identified various areas of improvement.Speaking on the occasion, Nisar said Pakistan’s narrative should be supported by all segments in a bid to promote the country as a moderate and investment-friendly destination. He discussed various avenues of economic prosperity and highlighted the issues confronted by the trade and industry.

He offered full cooperation of the FPCCI for the economic outreach programme and told the special assistant that his chamber had a vast outreach at the national and international levels besides being connected with all leading economic and trade blocs.

Nisar also highlighted some of the issues that were affecting industrial growth and economic development in the country. “Our competitors have attracted huge investments and penetrated world’s leading export markets by having a better level playing field,” he said.

He lamented that local businessmen were still advocating for the removal of basic hurdles such as expensive and disruption to energy supply, tariffs and duties on basic raw material for export-oriented industries and insufficient production of agricultural products. He pointed out that inadequate infrastructure for cross-border trade was an additional hurdle. “Now, industrial policy should be formulated that ensures protection to the existing industries and does not produce negative growth,” he stressed.

Published in The Express Tribune, October 22^nd, 2020.

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