Export-led Growth is the cure for our Economic woes

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DNA

Islamabad, JAN 31: Export-led Growth is the cure for our Economic woes. Ministry of Planning and Development will recommend to Prime Minister that Export emergency should be declared to take the country out of Economic quagmire; said the Minister while meeting the top Pakistani Exporters today.

The meeting was attended by the Exporters Representatives from Steel, Pharmaceutical and Textile sectors, who also apprised the minister about the problems faced by them in the course of doing business and exporting the indigenous products abroad.

The Minister while assuring them about the full-fledged support of the Government remarked that we will provide all-out support to the Industrial sector for resolution of their issues.  He also asserted that the Business community should present to the Government of any red-tapism or any other bottlenecks in the way of undertaking any venture, “we will cut Red Tape”, said the Minister.  He added that the incumbent Government is pursuing a business friendly policy and promoting the conducive environment for entrepreneurs.  The Minister said that in the past , we learnt to consumed instead of earning dollars . He also said that survival of the country is based on the premise that whether we can enhance our exports from $32 billion to $100 billion on shortest possible time.  The Government stands with the Industrial sector to attract  the Foreign Direct Investment (FDI) and to push Exports.

The Minister offered the platform of Ministry of Planning and Development to private sector for assisting in resolution of their problems.

The Minister lamented that  CPEC provided us the golden opportunity to turnaround the economy of Pakistan but the opportunity was squandered due  to bad economic policies of the previous regime .

However , we are committed to reviving  the CPEC Project. He added that China imports  $2250 Billion worth of goods  out of which  Pakistan  has  meagre share of $ 3billion, which is dismal.  The Minister laid emphasis to target Chinese market and increase market share in US and European markets so that progressive export-led economy can be realized adding that the Government will support the industrial sector to meet the challenges of the Global competitiveness.

The Minister said that the vision 2010 and Vision 2025 envisioned to revamp the Economic structure and bring prosperity and development in Pakistan but unfortunately Political instability  derailed the journey of progress.