Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood said on Saturday that Faisalabad was ready to lead the national economy with phenomenal growth in conventionaland emerging industrial sectors after excelling in the field of textiles.<\/p>\n
Addressing the first session of 2nd-day of the Pakistan Economic Conference (PEC) 2022, he appreciated the dynamism and entrepreneurship of the city and said that it was filled with the monotonous sound of \u201cKhat, Khat\u201d of power looms in 60s when he had visited this city first time.<\/p>\n
However, when he revisited Faisalabad in 2019, the industrial sector was facing closure but due to viable policies of the government, the city regained a new momentum as industrial sector was working with full capacity and most of units were not getting skilled workers, he added.<\/p>\n
He said that now another era of progress and prosperity was knocking at
\nits doorsteps as business community was now contemplating to switch over
\nto agriculture, IT, online businesses and a long chain of other sectors
\ninstead of depending on the textile alone.<\/p>\n
He was optimistic that the city would make a phenomenal progress because
\nof its inherent dynamism as the people of the city had innovative ideas
\nand skills to excel in any field.<\/p>\n
He also quoted Sialkot which had developed its own airport and said that
\nFaisalabad would also undertake mega development projects from its own
\nresources.<\/p>\n
Commenting on the industrial growth, he said that people were ready to
\nswitch over from trading to the manufacturing which would encourage
\nexports. \u201cWe should not restrict our exports to the regional level but
\nintroduce our products throughout the world particularly in the untapped
\nglobal markets\u201d, he added.<\/p>\n
He said that Pakistan had inked Preferential Trade Agreement (PTA) with
\nUzbekistan and Afghanistan which would provide access to Pakistani
\nexporters to a huge market of 72 million individuals in landlocked
\nCentral Asian states.<\/p>\n
He said that air-link would also be established very soon between Lahore
\nand Uzbekistan and hoped that this arrangement would facilitate business
\ncommunity to export hundreds of traditional and non-traditional items to
\nthese countries.<\/p>\n
He also quoted an exhibition of Pakistani products organized in Nairobi
\nand said that people of this region were impressed with the
\ncompetitiveness and quality of Pakistani products and it would open new
\navenues for Pakistani exporters.<\/p>\n
\u201cOur economic sovereignty is directly linked with exports and hence our
\nbusiness community must spread throughout the globe to achieve this
\nobject\u201d, he added. He also underlined the importance of female
\nentrepreneurs and said that Pakistan could not make progress by
\nisolating them from the national economy.<\/p>\n
He also acknowledged the importance of IT sector and said that it had
\nrecorded 47 percent record growth during this year. \u201cThis sector is
\ntotally tax-free and our youth must exploit its potentiality not only to
\nearn profit for them but also fetch precious foreign exchange for the
\ncountry without any major investment\u201d, he added.<\/p>\n
He said that target of IT exports had been fixed at 3.7 billion dollars
\nand hoped that it would be achieved very easily because of the keen
\ninterests taken by our young start-ups in this field.<\/p>\n
He appreciated the excellent arrangements made by the organizers of
\nPakistan Economic Conference and also photographed with them. Later, he
\nhad a series of meetings with the office bearers of different trade
\norganizations and assured to resolve their genuine issues on top
\npriority basis.<\/p>\n
Earlier, a complete session on IT was held. The moderator of this
\nsession was Dr Rizwan Khan CTO BizTech Consulting Vietnam while keynote
\nspeaker was Veqarul Islam Chief Executive Officer (CEO) Jaffar Business
\nSystems. <\/p>\n","protected":false},"excerpt":{"rendered":"
Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood said on Saturday that Faisalabad was ready to lead the national economy with phenomenal growth in conventionaland emerging industrial sectors after excelling in the field of textiles. Addressing the first session of 2nd-day of the Pakistan Economic Conference (PEC) 2022, he appreciated the dynamism […]<\/p>\n","protected":false},"author":2,"featured_media":211999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[3855,5115,3079,5064],"class_list":{"0":"post-250231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-faisalabad","9":"tag-lead","10":"tag-national-economy","11":"tag-razak-dawood"},"yoast_head":"\n