Karachi: Federal Minister of Commerce Jam Kamal Khan has reiterated the government’s commitment to trade and industrial facilitation and export diversification policy, and said that steps are being taken to develop local and export-oriented industries.
Addressing a press conference at the Trade Development Authority of Pakistan (TDAP), the trade minister said that the current government has decided to implement institutional and structural reforms, address energy and tariff issues, improve regional connectivity and diversify exports. ensure sustainable growth and stabilize the economy.
Jam Kamal said that Prime Minister Shehbaz Sharif has held several meetings with relevant ministries and stakeholders to discuss various issues to create a comprehensive strategy to address all the challenges faced by business and industry in Pakistan.
At the same time, various high-level committees were formed to advise on energy tariffs, government reforms, coordination among all ministries and stakeholders, and to improve the details of policies and initiatives and to overcome the challenges faced. The Special Committee on Energy Tariff Mechanism was directed by the Prime Minister to submit its recommendations within ten days after holding discussions with the business community.
Emphasizing initiatives to promote export diversification, the minister said positive results have been achieved from the Food and Agriculture Expo, “Pakistan Trade Portal” TDAP and other such steps, and the volume of food and agriculture exports has increased.
Jam Kamal’s total food and agricultural exports are expected to exceed $7 billion this fiscal year, and due to the significant increase in the export of rice, corn, sesame and other agricultural products, we can focus on the value of agricultural products and facilities for Jam Kamal. farmers and increase exports further.
Earlier, only one sector remained focused, now we are covering all sectors,” he said, adding that the textile sector, which forms most of the country’s exports, is under stress and considering various opportunities to develop the sector.
The Minister of Commerce pointed to the recent arrival of a delegation of Saudi Arabian businessmen and investors and said that the visit has facilitated extensive business relations and resulted in several agreements and memorandums of understanding.
On the other hand, talks with Saudi Arabia at the government level are also underway and we hope for a positive result, he said that a high-level official delegation of Saudi Arabia is expected in the coming days and important progress in agriculture is expected.
Highlighting some other important developments at the international level, he said that the agreement with the countries of the Gulf Cooperation Council (GCC) has improved and Pakistan will participate in the 2025 International Trade Fair in Japan.
The minister said that the Tariff Council is working on an agenda aimed at developing export-oriented industries and protecting local production. Emphasizing the role of domestic industry in providing employment, the minister said that the government wants to take actions that develop local industry.
He also urged domestic manufacturers to increase exports in addition to increasing their productivity so that the country’s exports increase.
Responding to questions about wheat imports, the minister said that the current government has not made a decision on the issue and the interim government has allowed private ownership to import wheat, as opposed to the previous practice that only allowed state-owned companies. import to meet our strategic needs.
Research is underway to ascertain the facts and share the findings with the public, he said, adding that the government is ready to consider the interests of farmers’ associations and that the ECC does not decide to buy wheat from farmers alone. but the acquisition target has also been strengthened.
TDAP Executive Director Zubair Motiwala briefed the media on the occasion about various export promotion initiatives and said that TDAP has launched a Pakistan trade portal featuring more than 7,000 products with all details.
He said that we are working on a “Look Africa” policy to explore the untapped African climate market and we are focusing mainly on South Africa, Kenya, Egypt and Ethiopia.
