ISLAMABAD:Caretaker Federal Minister of Commerce and Industry Dr Gohar Ijaz on Friday said that there are vast opportunities for foreign investors in Pakistan, and domestic exports have increased by $1 billion in a month.
The Commerce Minister has said that Pakistan is an emerging economy, there are wide opportunities for foreign investors, in the current quarter, and domestic exports have increased by $1 billion in a month.
The Minister said that Power rates to industries are going to be reduced to 9 cents, which will double exports, according to a press release issued here. He expressed these views while addressing a ceremony at the third annual Engineering and Healthcare Show at Expo Center Johar Town. He said that there is a lot of potential in Pakistan, our direction is right, this journey will continue, and we hope that those after us will continue the same journey.
The federal minister assured us that they are making it easier for exports, our focus is only to increase exports, we have to achieve th
e target of 10 times exports in the next ten years.
Gohar Ijaz said that the most serious problem of Pakistan is the stability of the economy, we have to move towards self-reliance. He said that the government is strengthening all other sectors including the power sector, we have to become an economic force in any case, exports were $2 billion in July 2023.
Although they are subject to the conditions of the IMF, despite that,’ We have increased exports by 100% in 5 months,” he said. Gohar Ijaz said that the government is bringing an electricity tariff of 9 cents per unit for all industries, we have to take steps to solve the problems of agriculture, textile and other sectors.
He said that the atmosphere is favourable for business in Pakistan, the purpose of the Engineering and Healthcare Show is to provide a platform to foreign and local businessmen so that they can come here and check the quality of Pakistani products themselves.
He added that by organizing such shows, a better soft image of Pakistan wil
l be exposed to the world and the exports of our country will increase. He said that those who are propagandizing against Pakistan should see that peaceful economic activities are going on in our country.
He said that Pakistan has great potential in terms of business and investment and the people here are very hardworking and resilient. He said that there is a huge demand for Pakistani products in the global markets, and it is hoped that this expo will get large orders from foreign buyers.
The Minister said that the Trade Development Authority of Pakistan is providing all possible facilities to the manufacturers of export products, they will also hold meetings with business tycoons to take advantage of the special package given by the government for foreign investors. Earlier, the Federal Minister of Industry and Commerce Dr Gohar Ijaz visited various stalls in the exhibition where the representatives of the stalls informed the Federal Minister about the products.
On this occasion, Chief Executive Officer
of Trade Development Authority Muhammad Zubair Motiwala told the supervising federal minister that more than 300 Pakistani companies in various sectors presented their products in this exhibition, including furniture, sports equipment, pharmaceutical, surgical equipment, and engineering. Includes appliances, auto sector.