ISLAMABAD, April 27: Federal Commerce Minister Humayun Akhtar Khan claimed on Wednesday that export would cross $14 billion during the current fiscal year against the target of $13.7 billion. He stated this in the meeting of advisory council of the ministry of commerce to consider various proposals for consideration in the up-coming trade policy for the year 2005-06 here on Wednesday.
Mr Khan said that Pakistan exports would register 79.9 per cent growth in 2004-05 when compared with exports value of over $7.78 billion in 1998-99.
However, he said that Pakistan was faced with the challenges of shortage of skilled manpower, poor infrastructure, quality and standards and low productivity of the industrial sector.
The minister announced that the construction of Expo Centre in Lahore would start in July this year and would complete in one and a half years.
This centre, he stated, would go a long way in exploiting the trade potential of Pakistani products.
The Governor, State Bank Dr. Ishrat Hussain said that the government was providing enabling environment to the business community through various measures like export financing scheme and streamlining loan procedures.
He was of the view that the chambers of commerce and industry should conduct research studies so that the business community might be made aware of the opportunities and potentials of various sectors of domestic as well as world economy.
Vice President of the FPCCI expressed that the cost of doing business in Pakistan was very high and the government should take measures to bring that cost down in order to make Pakistani business community competitive in the international market.
He laid emphasis on aggressive marketing by Pakistan’s trade officers abroad.
Other stakeholders and representatives of various bodies also submitted their suggestions to make Pakistani products competitive in the world.
The commerce minister welcomed all the proposals and assured them that their proposals would be considered in formulation of Trade Policy 2005-06.
