The Trade Development Authority of Pakistan—TDAP in consultation with the different stakeholders, is forming an export strategy which would soon be provided to the government for approval.
The Chief Executive Officer of TDAP—Arif Ahmed Khan said that the objectives of this strategy are to reduce the tax burden on the export sector and to extend a maximum number of facilities to the exporters. He said this during a meeting with the members of the Korangi Association of Trade and Industry (KATI) on Wednesday.
He emphasized the need for fast industrialization for ensuring economic development and prosperity of Pakistan. He remarked that only those nations have a strong economy that focuses on exports and industrialisation.
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The TDAP chief stressed the need of diversifying the export products as the nation could not withstand by confining to the export of traditional items. He said that the developed services sector would help in surging the exports and IT products could be the significant player in this context.
He indicated that the leather, rice, pharmaceutical and engineering sectors have extensive potential, as exports from these could surge significantly.
He said that the documentation of the economy of the country was essentially required for formulating better policies targeted at strengthening the economy.
Arif Ahmed Khan further stressed on the development of skills of workers for surging the industrial productivity.
He added that the overall economic environment requires to be changed.