Prime Minister Muhammad Nawaz Sharif chaired a meeting to review measures taken by the Government to enhance exports of Pakistan.
Prime Minister stated that the present government due to its rational approach and sound policies has achieved great success in economic growth which has been acknowledged by international monetary institutions. Our stock markets have shown phenomenal bullish trends, inflation rate has decreased and investors are now keen to invest in Pakistan, said the Prime Minister.
PM was informed that major issues identified regarding exports include competitive international suppliers who are also competing with Pakistani goods, comparative incentives on exports where other economies are providing higher incentives and Taxation regime. Prime Minister was also informed regarding facilitative measures provided by the Government for support for plant and machinery for Agro processing, Technology Upgradation Fund, Brand and Certification Development, incentives on Product Development and related Taxes & Levies.
Prime Minister said that in order to develop the export sector, key enablers including quality infrastructure, labour productivity, access to utilities and technological development needs to be focused upon. Moreover, convergence of local & international standards, protection of intellectual property, and effective and efficient disputes resolution mechanism are also essential to boost exports, said the Prime Minister.
The Prime Minister directed Finance Division, Commerce Division, Federal Board of Revenue (FBR) and Board of Investment to come up with sound proposals for improving the situation. PM further directed that these proposal be presented in the next meeting in presence of business representatives so as to ensure input from the business community.
The meeting was attended by Minister Finance Ishaq Dar, Minister Commerce Khuram Dastagir Khan, Minister Planning & Development Ahsan Iqbal, Chairman BOI Miftah Ismaeel, Secretary to PM, Secretary Finance, Chairman FBR and other senior officials.