Govt has completed homework for next fiscal budget, says Razak Dawood

• The present government has formulated policies to promote this industry, he said.
• Non-registration of Pakistani company is a major issue which would be resolved soon, says Dawood.

Prime Minister Advisor on Commerce, Industries and Productions and Investment, Abdul Razak Dawood has claimed that homework has been completed for the budget of next fiscal year.

Addressing the pharmaceutical summit in Islamabad, Advisor on Commerce said that the past governments had not paid special attention to the pharma industry. The present government has formulated policies to promote this industry, he said.

He said the pharmaceutical industry should prepare its export strategy and assured the government will extend full help to enhance exports of pharmaceutical sector.

Dawood assured to remove all the impediments in the way of development of industrial sector. He said Pakistan is also exploring new markets for its products.

The advisor said that the challenges faced must be solved together.

Dawood pointed out that non-registration of Pakistani company is a major issue which would be resolved soon. He added that the textile industry alone cannot improve the country’s economy, the rest of the industries will also have to come forward.

We need to work on improving the export rate framework, he said. All sectors have to work together on a strategic policy framework. The Advisor stressed the need for export led growth as it is important to save the country from debt trap. "All our imports are very limited," said Dawood.

Earlier, it was learnt that the Ministry of Industries and Production will submit a summary to the Economic Coordination Committee (ECC) of the Cabinet suggesting measures to reduce sugar price. One proposal circulating in the media is that the government will reduce GST on sugar to bring down the price.