ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed to formulate a national industrial policy to spur economic growth and increase industrial production.
He issued the directive during a briefing on the performance and targets of the Ministry of Commerce, and the Ministry of Industries and Production. He asked officers to increase the contribution of industries to the gross domestic product (GDP) of Pakistan from the present 12 percent to optimum capacity through the formulation of an effective strategy.
He said Pakistan should be made a hub of trade, transportation, and transhipment by taking advantage of its unique geographical location. He instructed that a training programme should be held for the business community and the logistics companies to make them aware about the international road transport system.
PM Kakar said the process of privatization of the loss-making state-owned enterprises should be speeded up. He was told about the performance of the officers posted abroad for enhancing trade and investment in Pakistan.
The meeting was told that economic partnership with the Central Asian states would be part of the strategy to increase exports. The authorities are hold consultations were continuing with the stakeholders for the establishment of the Land Port Authority.
The meeting was also briefed about the different aspects of the recently approved policy for local manufacturing of mobile handsets. It was told that in the next two years, four million handsets would be locally manufactured which would reduce the import bill and increase exports.
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The prime minister was also informed about the steps to streamline the exports of gemstone products. He said a training programme about use of modern technology should be arranged to upgrade skills of local craftsmen in order to increase capacity for gemstone exports. The sector is expected to have $2 billion of exports in the next two years.
He also stressed electronic warehousing for the promotion of e-commerce in the country. Minister for Commerce Gohar Ejaz, Minister for Finance Dr Shamshad Akhtar, Advisor to PM Ahad Cheema, Governor State Bank, and high-ranking officers attended the meeting.
