ISLAMABAD: The Apex Committee on Economic Outreach has been informed that an extensive mapping exercise about export potential of goods and services has been carried out in consultation with relevant government ministries that identified additional exports potential of US$31 billion.
The meeting presided over by Prime Minister Imran Khan on Thursday was informed by the Special Assistant to Prime Minister Dr Moeed Yusuf that an extensive mapping exercise about export potential of goods and services has been carried out in consultation with relevant government ministries, provinces and the private sector.
Dr Yusuf further informed the meeting that information technology, textiles, agriculture, meat, leather, pottery and ceramics, machinery and auto parts, metals and surgical instruments possess an additional export potential of US $31 billion.
He further told the meeting that a multiplier effect of an additional US $2 billion can be achieved through medical tourism, religious tourism, transport services, manpower, pharmaceuticals, marble and granite and salt products.
He apprised the meeting that there is a potential of additional exports of worth US $16.7 billion to the UAE, the USA, China, Germany, the UK, France, Indonesia, Spain, Algeria, and Malaysia.
The SAPM on National Security presented an overview for human resource allocation, key performance indicators for foreign missions of Pakistan, human resource training, and strengthening of ministerial structures.
Prime Minister stated that the main objective of this apex committee is to chalk out a long-term plan for import substitution. The plan must also be aimed at increasing exports so that Pakistan becomes self reliant.
He also emphasised that international best practices need to be adopted for priority sectors and consultations with international experts are essential for achieving success.
The prime minister also stressed upon the need to enhance inter-ministerial coordination and public-private partnership for increasing exports.
The meeting decided that the Ministry of Commerce will furnish an action plan with timelines in one week and will update the prime minister regarding progress made on priority sectors on a weekly basis.
The meeting was attended by Federal Ministers Shah Mehmood Qureshi, Dr Abdul Hafeez Sheikh, Muhammad Hammad Azhar, Senator Shibli Faraz, Syed Fakhar Imam, Fawad Ahmed, Adviser to PM Abdul Razak Dawood, Governor State Bank Dr Reza Baqir, SAPMs Dr Moeed Yusuf, Dr Faisal Sultan, and senior officers.
The chief secretaries of Punjab, Sindh, Khyber-Pakhtunkhwa, Balochistan, AJ&K, and Gilgit-Baltistan participated through video links.
Copyright Business Recorder, 2021
Comments
Comments are closed for this article.