ICCI Urges Concerned Institution To Develop Long Term Exports Strategy
Fahad Shabbir (@FahadShabbir) Published August 18, 2016 | 04:54 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Augst,2016) : The Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to develop a long-term exports strategy by focusing on major reforms, enhancing share of high tech and innovative products. The government should improve quality, create value through designing and branding and market diversification by paying more attention towards unexplored markets of Central Asia, South America and Africa, President, ICCI, Atif Ikram Sheikh said on Thursday.
He said there was an urgent need of bringing major structural reforms in the exports sector and focusing on diversification as the existing composition of exportable items lacked force to bring significant improvement in exports The President, ICCI, said another problem with export sector was that our exports were dominated by Primary and intermediate goods rather than value-added finished products as 74 percent of food items and 40 percent exports of textiles were primary commodities.
Showing concerns over falling exports, he called upon the government to take urgent measures to stop this trend. He said, the government should conduct a candid analysis of export sector to take corrective measures. Atif Ikram Sheikh said, the country was depending mainly on textiles and some other products for exports, adding, textiles exports has now only 4.1 percent share in the world trade whereas the engineering sector constituted 34 percent share in the international trade, but share of Pakistan's exports of engineering goods was quite nominal.
Related Topics
Recent Stories
Over 37% Tobacco tax increase suggested to save lives, boost revenue
Mohsin Naqvi has offered a substantial incentive, pledging $100,000 to every pla ..
Citizens join Al Barsha Police in “An Hour for Dubai” Initiative
Art can be a powerful tool to relieve stress, Experts say at Sharjah Children’ ..
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 5 May 2024
Today Gold Rate in Pakistan 05 May 2024
Bugti assures transporters for addressing their problems
Deputy Prime Minister and Foreign Minister, Mohammad Ishaq Dar meets foreign min ..
3 drug peddlers arrested, hashish recovered
1496,990 children given polio drops in five days: DC
Six terrorists killed, hideout busted in N Waziristan IBO: ISPR
Pakistan, Qatar agree to further expand trade, investment ties
More Stories From Business
-
PIACL restructuring approved by SECP
3 hours ago -
Saudi trade delegation arrives in Pakistan for investment cooperation
4 hours ago -
Saudi trade delegation arrives Pakistan for mutual investment cooperation
6 hours ago -
FPCCI urges urgent action amidst Pakistan’s economic situation
6 hours ago -
Over 37% Tobacco tax increase suggested to save lives, boost revenue
7 hours ago -
Pak-Saudi investment conference to be held on Monday
8 hours ago
-
NPO launches program for development of gemstone sector
11 hours ago -
PFC to take part in Riyadh Intel. expo
12 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 5 May 2024
17 hours ago -
Today Gold Rate in Pakistan 05 May 2024
17 hours ago -
CRD survey unveils 18% Pakistanis quit smoking
1 day ago -
NTUF granted patent for Innovative Multilayered Natural Fiber Composite Helmet
1 day ago