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Wednesday April 24, 2024

PM asks exporters to think of innovative ideas for boosting exports

PM Shehbaz appreciates industry stakeholders for their contribution to promote Pakistan's textile and leather exports

By Business Desk
May 26, 2023
Prime Minister Shehbaz Sharif at the inaugural ceremony of the Textile Expo in Karachi on May 26, 2023. — Twitter/@GovtofPakistan
Prime Minister Shehbaz Sharif at the inaugural ceremony of the Textile Expo in Karachi on May 26, 2023. — Twitter/@GovtofPakistan

KARACHI: Prime Minister Shehbaz Sharif Friday advised the country’s exporters to come up with innovative and unique ideas to boost exports to help the country earn valuable foreign exchanges.

"Despite various challenges, we have very robust, very futuristic, and extremely hardworking entrepreneurs that have gradually built Pakistan’s export culture," he said while addressing a ceremony at the inauguration ceremony of the Textile Expo in the port city.

With genuine government support combined with the entrepreneurs' extraordinary intellect and hard work, the premier said, that the provision of quality export goods to foreign customers would be ensured.

Welcoming foreign delegates at the occasion, the prime minister said he was happy to learn that over 400 foreign delegates from 60 countries were visiting on the occasion showed Pakistan was a valuable destination for foreign guests, buyers, and traders.

PM Shehbaz also appreciated the industrialists, exporters and experts who had contributed immensely to promoting Pakistan's textile and leather exports.

He said Pakistan's industry had now been transformed and converted to air jet looms, ginning, spinning and waving.

The premier said that the Commerce Minister Syed Naveed Qamar, Secretary of Commerce Sualeh Ahmad Faruqui and Trade Development Authority of Pakistan Chief Executive Zubair Motiwala had done a commendable job by arranging this expo, which would help promote the country’s exports.

The PM said the textile sector constituted 60% of total exports, while 40% labour force was absorbed in this sector. "It is no doubt one of the largest sectors of Pakistan’s economy," he added.

He pointed out that despite financial challenges and other difficulties, the government was committed to providing genuine support to all the export sectors including textile, leather and sports to help increase the country's export volume.

He recalled that a few decades ago, Pakistan was ahead of its neighbours in textile exports; however, unfortunately, it lost the grounds.

"But I have no doubt in mind that we can still recover from these setbacks and take hands off the clock back to 1990s and excel in our exports,” he said adding that Naveed Qamar, its team, and the finance minister combined could turn the table.

The PM said Naveed Qamar had put in place the national compliance cell which was the need of the hour and "we are obviously grateful to the European Union for the GSP plus status and again I am aware of the fact that all reviews have been done, and we … respect all international requirements in this behalf whether it is good governance, human rights or any other requirement."

The premier maintained that the government believed in the rule of law and merit, and come what may, the government would toe the line of constitution and policies.

Commerce Minister Qamar said Pakistan offered numerous opportunities for investment to foreign investors.

He stressed the need to provide more incentives to the exporters to boost the country's exports. He also assured the government’s full support to entrepreneurs ensuring the provision of a conducive environment for them to not only build up the country’s foreign exchange reserves but also to lessen their dependence on international lenders.

Last month, he said, the government set up the compliance cell in the ministry to coordinate the efforts for meeting all the conditions for various programs including GSP Plus.

TDAP Chairman Motiwala said Pakistan was known for the standard textile products around the world.