Islamabad Chamber of Commerce and Industry lauds formation of new Forum for boosting production and exports

Islamabad, August 06, 2015 (PPI-OT):Islamabad Chamber of Commerce and Industry has lauded the government’s initiative for creating a new forum comprising key economic ministries to focus on improving falling production and exports of the country and called upon the government to ensure proper representation of the private sector in the said forum to make its efforts more effective and well-targeted.

The new forum viz. the Cabinet Committee on Production and Exports will be headed by Finance Minister Ishaq Dar and will include the Ministers for Commerce, Planning, Textiles, Industries and Production, and National Food Security. The parliamentary secretaries of these ministries will also be its members.

M. Ashfaq Hussain Chatha, Acting President, Islamabad Chamber of Commerce and Industry said that industrial productivity and exports of the country were on the decline due to many factors and there was a dire need to identify gaps and challenges that were causing this phenomenon and to find a way forward in consultation with manufacturers and exporters to boost production and exports.

He termed the formation of this new forum as a step in the right direction as it will create synergy in the efforts of these ministries and help in addressing key issues of private sector for improving productivity and exports. He said Pakistan was mainly focusing on Europe and West for exports with limited range of products.

However, it was high time that the government should cooperate with private sector for diversification of products and markets. Government should give more focus on other emerging and non-traditional markets including Central Asia, Africa and Far East that have great potential for Pakistani exports.

M. Ashfaq Hussain Chatha stressed that the newly constituted forum should take engage private sector in consultation proves and make cohesive economic policies that should bridge the huge gap between the potential and the performance of the national economy and put the country on the path of sustainable economic growth.

For more information, contact:
Khalid Chaudhry
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950