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PM for enhancing inter-ministerial coordination, a public-private partnership to boost exports - Inside Financial Markets

PM for enhancing inter-ministerial coordination, a public-private partnership to boost exports

– Associated Press of Pakistan

Prime Minister Imran Khan on Thursday stressed upon the need to enhance inter-ministerial coordination and public-private partnership for increasing exports.

Chairing a meeting of the Apex Committee on Economic Outreach here, he stated that the main objective of the apex committee was to chalk out a long term plan for import substitution and increasing exports so that Pakistan became self-reliant.

The prime minister emphasized that international best practices needed to be adopted for priority sectors, and consultations with international experts was essential for achieving success.

It was decided that the Ministry of Commerce would furnish an action plan with time lines in a one-week time and update the prime minister on weekly basis regarding progress made on priority sectors.

The meeting was attended by federal ministers Shah Mehmood Qureshi, Dr Abdul Hafeez Sheikh, Muhammad Hammad Azhar, Senator Shibli Faraz, Syed Fakhar Imam and Chaudhry Fawad Hussain, Advisor on Commerce Abdul Razak Dawood, State Bank Governor D. Reza Baqir, special assistants Dr Moeed Yusaf and Dr Faisal Sultan, and senior officers.

Chief secretaries of Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, AJ&K and Gilgit Baltistan participated thorough video link.

SAPM on National Security Dr Moeed Yousaf briefed the meeting that an extensive mapping exercise about export potential of goods and services had been carried out in consultation with relevant government ministries, provinces and the private sector.

He said Information Technology, Textiles, Agriculture, Meat, Leather, Pottery & Ceramics, Machinery & Auto Parts, Metals and Surgical Instruments possessed an additional export potential of US $ 31 billion.

A multiplier effect of additional US $ 2 billion could be achieved from medical tourism, religious tourism, transport services, manpower, pharmaceuticals, marble & granite and salt products, Dr Moeed Yousaf  said.

He apprised the meeting that there was potential of additional exports worth US $ 16.7 billion to the UAE, the USA, China, Germany, the UK, France, Indonesia, Spain, Algeria and Malaysia.

The SAPM presented an overview for human resource allocation, key performance indicators for foreign missions of Pakistan, human resource training and strengthening of ministerial structures.

Syed Zaki Hussain

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