Minister for Planning Development and Reforms Ahsan Iqbal on Tuesday assured the business community to address all the hurdles in export promotion and investment development within 15 days to facilitate them for enhancing local exports while attracting foreign and local investment to achieve sustainable economic growth and in the country.
Addressing All Parties Conference for the Revival of Economy, organized by Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with National Press Club Islamabad, he called upon the business community to identify the hurdles faced by them in exports promotion and investment development and that would be addressed within 15 days.
He also asked for enhancing exports and promoting imports substitute to reduce widening trade deficit and achieving export-led sustainable growth, which was only way to steer the country out of economic crises.
He stressed the need for establishing an export promotion desk in every chamber across the country to increase local exports to attract more foreign exchange reserves for attaining economic sovereignty and reducing reliance on foreign loans.
The minister commending the initiative of ICC said that it was the most vital event organized to commemorate the 75th Independence Day of the country.
He said the most critical challenge faced by the country was economic and political instability, adding that charter of economy would help to formulate long term economic policies for economic growth and social prosperity of the country.
He said that in current period, the countries which were economically strong included in the list of respectable nations, adding that economic instability forced to compromise your autonomy.
The Pakistan has made lots of progress in every field including trade, finance, investment, commerce, Industry and agriculture, he said adding that the country was still behind when it compared with those nations, which came into existence with it. He said that when country came into being, it was facing dearth of resources and there was no basic infrastructure available to govern it and was being speculated that this new born country would not survive for a long time.—APP