‘Govt planning industrial policy’

KARACHI: The government is formulating a sector-wise industrial policy to reduce the cost of doing business and increase exports, Advisor to Prime minister for Commerce and Industry Abdul Razzak Dawood said on Wednesday.

“Presently, the government’s sole focus is on increasing exports, afterwards, import subsidies will also be considered,” he said, while talking at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

Dawood said the new policy, which the government would present along with the upcoming federal budget in June 2019, would be industry-centric, particularly SMEs, and invited the input of industrialists. “No decision would be taken in contrast to the recommendations of the business community,” he assured.

The advisor said Secretary Commerce Yunus Dhaga was drafting a revised national tariff to rationalise dumped and subsidised imports of goods hurting the domestic industry. “Business community should discourage imports and promote industrial investment.” The advisor pinned much hope on the prime minister’s visit to China on November 2, 2018. “We are expecting a lot from China, and the neighbour is willing to assist Pakistan in all sectors.”