KARACHI, Nov 14: Vast potential exists to increase the exports of engineering goods from Pakistan to $250 to $300 million in next three to four years.

This was stated by the Chairman, Export Promotion Bureau (EPB), Tariq Ikram while speaking at the conclusion of two-day national conference on “Engineering Industry” organized by Resource Development Fund and Institute of Banking Finance and Industry here on Wednesday.

He said the EPB was focusing on enhancing the exports of engineering goods under its ten-product promotion strategy which also includes fisheries, computer software, fruits and vegetable, etc.

Ikram said the auto parts exports had risen from $10 million to $25 million in three years, and now the EPB was endeavouring to increase it to $ 100 million in near future.

He pointed out that EPB was closely working with the engineering industry to improve the quality and export of autoparts.

He said enormous potential existed for the exports of Pakistani electric fans which were better in quality than those of many countries in the region, and that the UK was willing to buy these fans.

He said various engineering goods including electric motors and pumps and electric fans had been exported to Iraq, and exporters were now moving to other countries like Australia and Canada.

Ikram suggested exporters to be more quality-conscious of exportable engineering goods and make proper costing of products before their exports.

He invited exporters to avail the facility of “product upgradation fund” for improving the quality of their products.

He said the government will share 50 per cent of the cost of product upgradation while the exporters will bear the rest.

He also called for a greater collaboration between the exporters, EPB and engineering universities for developing indigenous machinery and techniques to improve quality of exports.

Earlier, various speakers including Secretary Industries and Production Dr Akram Shaikh, Vice-Chancellor of NED Engineering University, Abul Kalam, Dr. M.A. Shaikh underlined the need for close link between engineering and technology universities and manufacturers and exporters.

They called for a pragmatic approach towards encouraging and developing engineering industry, which was vital for economic development of Pakistan.—APP