Strengthening of private sector vital for economic development: President

ISLAMABAD: President Dr Arif Alvi Wednesday said strengthening the private sector through promotion of local goods and industry was of paramount importance for the country's economic development.

The president was talking to delegations of Rawalpindi Chamber of Commerce & Industry (RCC&I) and Sargodha Chamber of Commerce & Industry (SCC&I), that called on him separately here at the Aiwan-e-Sadr, a press release said.

President Alvi emphasized that revival of the national economy was the top priority of the government in which industrial and business community should also play their constructive role.

He stressed upon the need to increase exports in order to reduce the trade deficit. Steps were being taken to create business and investment friendly environment, and to provide maximum facilities to businessmen and investors, he added.

The president noted that the government’s policies were in the right direction and urged the chambers of commerce and other trade organizations to promote research in various fields, so that new opportunities for the national industry and commerce could be determined in accordance with the international trends.