‘Duty on raw material imports being slashed’

Islamabad:Adviser to Prime Minister for Commerce and Investment, Abdul Razzaq Dawood says, the economy has begun showing positive trends as a result of Govt strategic decisions.

He said, Pakistan has now overcome current account deficit and a balance is clearly visible. He believed that there are signs of growth in exports. The govt is taking steps to slash import duties on raw materials with a view to bringing down cost of production and increasing and decreasing volume that will allow export margin.

Addressing annual dinner of Pakistan Soap Manufacturers’ Association, he said, Govt will slash import duty on raw materials, especially palm oil to promote the soap manufacturing industry.Zafar Mahmood, chairman PSMA on behalf of the Association, thanked the Advisor for his initiatives for promoting exports of the country. He said, the PSMA are thankful to the Govt for their understanding of genuine demands of the industry. He assured the advisor that the soap manufacturers’ would make all out efforts to explore international markets for their products.

Those who attended the annual dinner of the PSMA included the High Commissioner of Malaysia Ikram Mohammad Ibrahim, Dr. Shoaib Suddle, members of PSMA and prominent people.