Industrialisation, exports essential to uplift economy: PM Imran

Prime Minister Imran Khan on Monday launched Pakistan-China Business Investment Forum as he stressed the importance of industrialisation to strengthen the economy and improve the standard of living

The premier said industrial progress and exports were keys to a country’s progress and prosperity, adding that wealth creation was impossible without industrial development

LIVE #APPNews : Prime Minister Imran Khan addressing launching ceremony of Pak-China Business and Investment Forum #Islamabad @PakPMO https://t

co/neVSaVTjIO — APP 🇵🇰 (@appcsocialmedia) January 3, 2022 During the ceremony, the premier recalled that Pakistan was on its way to becoming an industrial society in the 1960s but in the 1970s, the nationalisation programme launched by then prime minister Zulfikar Ali Bhutto choked the industrial development

The prime minister said even small countries in the world had increased their exports capacities due to their focus on industries and exports

However, he seemed hopeful, saying incentives provided by his government over the past two years doubled the exports in the information technology sector

Read: 'Tsunami of inflation': Opposition lambasts PM Imran for petroleum price hike The premier said the focus of his government is to boost exports and encourage new industries

He added that in order for a society to develop, it has to export more goods

He said Pakistan cannot increase its exports by just selling vegetables and fruits, adding that industrialisation was mandatory to achieve an increase in exports

During the address, he also lauded the National Command and Operation Centre (NCOC) for “successfully” countering coronavirus

He said the government has resolved to increase export, encourage industrialisation and curb the outflow of dollars from the country

He said the government will take measures to curb money laundering as this results in an outflow of dollars from Pakistan to other countries

The PM said he was likely to visit China next week where he would also discuss urban planning with the Chinese government

Giving the example of Lahore, he said the horizontal expansion of cities results in pollution among other issues

Referring to China and Turkey, the prime minister observed that they made strides by enhancing their industrial and exports capabilities

Turkey overcome its trade deficit with an increase in exports which also raised its GDP, he added

Pak-China Business Investment Forum was formed in collaboration with the Pakistan Board of Investment (BOI) and All Pakistan Chinese Enterprises Association with the objectives to promote investment by the Chinese companies in Pakistan and enhance business-to-business industrial cooperation

Following the participation of over 70 companies in the China-Pakistan Economic Corridor (CPEC) Conference held in March last year, it was agreed to establish a business forum with the cooperation of the Chinese Embassy in Pakistan and the Board of Investment to enhance business-to-business cooperation

The forum consists of 18 Chinese and 19 Pakistani companies

Date:04-Jan-2022 Reference:View Original Link