KARACHI, Dec 11: Federal Minister for Industries and Production Liaqat Ali Jatoi has asked the state-owned industrial units to quickly comply with the requirement of international buyers and manufacture products that could attract more buyers.

He urged industrial units to expedite their research work and try to update their technological skills in order to meet the challenges of globalization as well as changing demand pattern in world markets.

During a visit to the Pakistan Machine Tool Factory (PMTF) on Wednesday, at Landhi, Jatoi said that buyers would stop procuring locally made products if the industrial units continue to rely on old tools and designs.

He emphasised upon the PMTF management to continue efforts for attaining optimum results by effective and efficient utilization of facilities of this prestigious organization.

He said it is time to make out studies for new products and markets and technological improvement in products.

He directed the management to work hard, make reduction in cost, increase productivity and sales in order to keep company in good health.

Jatoi also asked to make full efforts to minimize imports and increase exports for betterment of the economy.

He referred to some new markets like Bangladesh, Malaysia, Congo and Sri Lanka where exports could be increased.

The minister urged the PMTF to explore the country’s auto sector and other industries by producing spare parts for these industries so that dependence on imports could be lowered.

Talking about three-year rule of President General Pervez Musharraf, he said the country’s economy has finally come on the right track due to adaptation of conducive economic policies in the last three years.

He said the new government of Jamali is also looking forward to further improve the economy.

He said his ministry has issued instructions to all government officials, visiting abroad, to submit a report within one week of the arrival in the country about the achievement of their visits.

The government, he added, would not allow any foreign visit to be undertaken by officials as the joyride trip. The visit should prove fruitful results.