UK backs economic growth via JETPAK

The United Kingdom is supporting Pakistan's economic growth and success by extending cooperation in various sectors, Senior Economic Advisor of the British High Commission Louie Dane said on Thursday.

Addressing traders and industrialists at the Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), the diplomat said his two-day visit to the city aimed to get direct feedback from the local business community to determine which sectors required further investment, training, technology and policy support. The Pakistan-UK Trade Dialogue was established last year to reduce barriers to trade and encourage bilateral business opportunities, he added.

Dane said the UK was also supporting Pakistan at the policy level, including improving the capacity of federal and provincial institutions, facilitating the business environment and introducing measures to facilitate trade.

He said the Jobs and Economic Transformation Programme Pakistan (JETPAK) is a comprehensive prolonged programme being rolled out in phases, backed by the UK's Development Office and the Foreign, Commonwealth and Development Office. "The main objective of this programme is to strengthen the private sector and promote sustainable economic growth, create new employment opportunities and increase exports, especially with a focus on small and medium-sized enterprises (SMEs)," he elaborated.

Earlier, HCSTSI President Saleem Memon welcomed the delegation and said the chamber was an effective representative body of the business community, in touch with government institutions to resolve issues like taxes, the energy crisis, infrastructure and trade barriers. He termed JETPAK a timely and important initiative and expressed hope it would play a significant role in promoting SMEs. He noted that Hyderabad has immense potential in textiles, the bangles industry, handicrafts, agri-trade and small industries, which could access international markets with proper facilities and support.