LAHORE: Federal Minister for Planning, Development and Special Initiatives Prof Ahsan Iqbal has said that the coalition government is trying to divert the orientation of industrial and corporate sectors from domestic to foreign markets, since it is the only way to bring in dollars, build up foreign reserves, and ensure the balance of payments.
He was talking to the media after visiting a mobile assembling factory ‘Air Link Communication’ at Quaid-i-Azam Industrial Estate, here on Monday. He said that ignoring the export sector and relying on imports had been one of the key reasons for our failure on maintaining a balance of payment.
The planning minister said that the government had devised a five-point framework through which foreign reserves need would be fulfilled by improving exports.
Exports, E-Pakistan’s Information Technology, energy, environment or water food security and education, health and population control were the key segments of the framework.
Ahsan Iqbal said that government’s economic emergency plan was export oriented and for the purpose, the government was engaging private sector to devise a future course of action, hoping that the government would succeed to turn around the country towards development and prosperity in maximum next two or three years.
The minister said that the government was committed to introducing socio-economic reforms and industry was one of the major areas to be equipped with modern technology to boost production through smart practices. He mentioned that ignoring the exports sector and relying on imports had been one of the key reasons for devastation of economy.
He said that the government was making efforts to introduce friendly policies to boost enterprises as people and private sector of the country had lots of enterprise, adding that “Our supports was with the industry sector and we jointly steer the country out of crises.” He mentioned that development of private sector was important to improve exports of the country.
About his visit to the plant, he said that he was pleased to see the world standard assembling mechanism and advanced technology at the factory, saying that the country’s private sector, professionals and work force was able to manufacture advanced products. Collective efforts from all stakeholders were needed to steer the country out of challenging situation and industry was key pillar in that mechanism.
To a question, he said that in 2013 same economic situation was inherited from than government, but the Pakistan Muslim League-Nawaz worked day and night with dedication and put the country on road to progress. He vowed that the government would tackle these challenges in an effective manner this time also.(APP)