KARACHI, Sept 14: Acting President Mohammadmian Soomro has assured the business community that the government is actively working to evolve strategy to reduce the cost of production.

Speaking at the Karachi Chamber of Commerce and Industry’s Export Performance Awards for the Karachi-based exporters on Wednesday, he said that the government was working on all issues, which were hindering the growth of exports and business activity.

“The electricity and gas tariff play an important role in the cost of production and the government has formed a committee on the subject,” he said and added that the committee was actively working and it would evolve a strategy to reduce the production cost as per proposals and suggestions of the industrialists and businessmen.

He called upon the business community to focus on research, education, skill development and maintenance of quality as these factors were very important to capture the world market.

He added that the education and skill development would go a long way in improving the quality of the products.

However, he said that he was happy to note that the exporters were active in African markets, which have tremendous potential for Pakistani products.

He said the research and especially in the field of pharmaceutical sector could help them produce high return products.

He said that the higher exports was the key to the national development and progress as it means more jobs, better quality of goods and enhanced economic activity.

Referring to the solutions and efforts in reducing the government interference in regard to different laws including labour laws, improvement of law and order, infrastructure and removal of other irritants, he said these issues would also be tackled one by one to ensure investment friendly environment in the country.

He also appreciated Export Promotion Bureau chairman Tariq Ikram for his dedicated services that doubled the exports and helped create fiscal breathing space.

He hoped that the EPB would continue to promote the export of non-traditional goods and services and to capture new markets.

Earlier, KCCI president Khalid Firoz in his welcome address said that achieving the 8.4 per cent GDP growth rate during the last fiscal year was the result of political stability, consistency in economic policies and good governance.—APP