The Islamabad Chamber of Commerce and Industry (ICCI) on Monday urged the government to focus on diversification of exportable products and markets in order to boost the volume of exports, which would ensure achieving better economic growth of the country and address many economic woes.
Muhammad Shakeel Munir, President, ICCI said that Pakistan was mostly relying on textiles for exports as this sector was making 60 percent contribution to the total exports of the country.
However, he urged that the government to cooperate with the private sector for diversification of exportable products and markets to improve exports in order to tackle Pakistan’s long-standing economic woes and achieve sustained growth.
He said that many sectors including engineering, IT, pharmaceuticals, Halal food, marble, granite, gems & jewellery and others have good potential to improve Pakistan’s exports and emphasized the need to take solid measures to facilitate these potential sectors to achieve fast growth in exports.
ICCI President urged the government to focus on emerging markets for exports, including Russia, Central Asian region, Africa, Turkey, South East Asian Nations (ASEAN).
He said that acquisition of new markets and focus on diversification was very important to take our exports to the higher levels.
He said that it was essential for Pakistan to upgrade its industrial sector for producing value-added products for exports.—APP