Govt For Taking Measure In Upcoimg Investment Policy To Attract Investment

The government will initiate measure under new investment policy to attract local and international investors for improving economic growth.

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Oct, 2018 ) :The government will initiate measure under new investment policy to attract local and international investors for improving economic growth.

"We will offers modern facilities to local and international investors and proving ease of doing business in Special Economic Zones (SEZs)," senior official of ministry of commerce told APP here on Tuesday.

Replying to a question, he said that in the upcoming Strategic Trade Policy Framework (STPF) 2018-23, the Ministry was devising the long, medium and short term trade policy for the period of five years so that trade could benefit from the incentives announced in STPF 2018-23.

The major focus of STPF would be upon boosting exports in the Technology and Services Sector, competitiveness and investment linkages, particularly attraction of Foreign Direct Investment (FDI) in the export related Industry and integration of local industry into global value chain.

He emphasized upon the stakeholders for their concrete proposals based upon proper research of markets and data, for their consideration by Ministry of Commerce and incorporation of the same in the upcoming STPF 2018-23.

The official said that "We would focus on promoting 'made in Pakistan good' and discourage imports," he remarked.

Answering to another question, he said the government was committed to enhance exports and increasing manufacturing in engineering, textile, agriculture and chemical domains.

The government, he said, would give priority to promoting export-led growth and reduce dependence on imports, adding that it had identified many sectors to boost exports.

He said, "Primarily, "We are focusing on increasing exports in engineering and Information Technology (IT), chemicals and innovated technology through enhancing their competitiveness in global market."He said special attention would also be given towards promoting textile exports, particularly knitwear, apparel, garments, leather products and rice, besides, promoting furniture industry of the country which has great export potential.

He said the government, in consultation with stakeholders, would devise a comprehensive policy guidelines to promote textile and industrial exports.