The Express Tribune
Published Date: Sep 27, 2017
Official sit down to discuss export competitiveness
Pakistan’s exports have been under immense pressure for some time, and this is due to a variety of factors, including constraints at the national and global levels.
Hence, joint efforts are required by all stakeholders to curtail the challenges, said Ministry of Commerce Secretary Younus Dagha.
Speaking at a roundtable meeting on ‘Achieving export competitiveness in Pakistan’, he said that the government was taking all possible measures to transform the export-related challenges into opportunities.
The event was held by Sustainable Development Policy Institute (SDPI) in collaboration with Ministry of Commerce and The World Bank Group (WBG).
Acknowledging the need for persistent and relevant policies, Dagha said that it was important to invest in human resources and agriculture sector to make exports more competitive in the international market. He assured that the government was focused on enhancing bilateral trade to boost foreign direct investment in the country.
Also present on the occasion, World Bank Country Director Patchamuthu Illangovan said that the population growth rate was a major impediment for economic growth. The private sector, along with government institutions, in Pakistan must play a role in boosting growth rate over 5%, he remarked.
Pakistan’s exports to most regions have plunged
Illangovan opined that instead of consumption-led growth, Pakistan should focus on investment-led growth. He viewed the China-Pakistan Economic Corridor (CPEC) as an important opportunity for Pakistan, adding, “Pakistan should take advantage of its geographical location, especially around the CPEC project.”
Investing and focusing on value chain should be a key consideration for Pakistan, he added.