ISLAMABAD: The Pakistan Business Council (PBC) has called upon the commerce ministry to devise a comprehensive package aimed at streamlining crucial factors such as electricity, gas, and labour to bolster the overall competitiveness of local industries.
In a high-level meeting chaired by Caretaker Commerce Minister Gohar Ejaz, the PBC put forth its demands and a comprehensive discussion took place regarding the strategies and initiatives aimed at bolstering international trade, fostering export growth, and enhancing the overall business environment in Pakistan.
An official announcement issued after the meeting said that the PBC proposed recommendations to tackle crucial challenges and capitalise on potential opportunities in the country’s economic sphere. The PBC highlighted various measures to address the prevailing issues in Pakistan’s economic landscape.
The PBC underscored the significance of streamlining vital factors such as electricity, gas, and labour to boost the overall competitiveness of industries. The PBC emphasised the significance of the IT sector and urged shifting focus from commodities to value addition and branding.
During the meeting, the participants delved into the topic of enhancing international trade and facilitating business operations.
The minister Mr Ejaz expressed his unwavering commitment to fostering economic growth and facilitating trade. He assured that regional trade would be facilitated through proper channels to bolster regional economic ties. He called on the members of PBC to come forward and play their due role in formalising the economic activities. Mr Ejaz also reaffirmed the government’s commitment to combating smuggling activities, ensuring a level playing field for legitimate businesses. “I will visit every industrial city and make every industry functional,” he said.
The commerce minister also outlined his commitment to opening up new markets, increasing IT exports, and promoting e-commerce to boost Pakistan’s GDP. He also mentioned plans for organizing trade exhibitions and securing concessions from trade partners.
Published in Dawn, September 20th, 2023