Vibrant industrial sector, skilled labour to attract FDI: Khusro

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Minister reaffirms Pakistan’s positive role for achieving shared objectives

Mohammad Arshad
Islamabad

Federal Minister for Industries and Production Makhdum Khusro Bakhtyar, Friday, observed that the vibrant industrial sector of Pakistan with total number of SMEs grown up to 5.2 million and had employed a labor force of 65.5 million highly skilled labor force in construction, textiles, leather, footwear, surgical equipment, sports goods, automotive and light engineering sectors.

Addressing the first meeting of Minister of Industries from Shanghai Cooperation Organization (SCO) member states in virtual format, he underlined that availability of skilled labor force in such areas highlighted Pakistan’s competitive advantage and opportunity for attracting foreign direct investment.

The Minister also apprised the forum about promulgation of National Electric Vehicles Policy and Mobile Device Manufacturing Policy.

The meeting of the Ministers of Industries from SCO member state is a new mechanism proposed by Tajikistan with an aim to foster deeper cooperation for economic growth.

The Minister appreciated the launch of mechanism for Industrial cooperation in SCO framework and said that this step would further the development agenda of the organization.

While addressing, the Minister put forward four point agenda for industrial cooperation among SCO member countries including launching of the study for finding Industrial complementarities and synergies among SCO member states; establishing an SCO Development Bank and SCO Development Fund for providing financial base for industrial cooperation on IFC model, energizing SCO Business council for Business to Business interaction avenues

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