Maritime Minister Qaiser Sheikh holds meeting with PIAF delegation
\n Islamabad
\nFederal Minister for Maritime Affairs, Qaiser Ahmad Shaikh has emphasized the importance of promoting regional trade for sustainable economic growth.
\nWhile talking to the delegation of Pakistan Industrial & Traders Associations Front (PIAF), he said that concrete measures are being taken to develop the maritime sector, which plays a crucial role in the country\u2019s economic progress.
\nThe delegation of the Pakistan Industrial & Traders Associations Front held a meeting with the Federal Minister for Maritime Affairs, Qaiser Ahmad Sheikh. The delegation included Patron-in-Chief Mian Anjum Nisar and Chairman Fahim Rehman Saigol.
\nThe minister said political stability and peace are necessary for achieving sustainable development. The Minister expressed government\u2019s commitment to create a conducive environment for trade and investment for long-term economic prosperity.
\nQaiser Ahmad Sheikh has said that the maritime sector in Pakistan is of key importance for economic development and the maritime policy will be announced soon after the approval of the cabinet.
\nHe said that promoting maritime trade was indispensable for sustainable economic development. He said that last year the maritime sector had lost billions of rupees, but this year a profit target of Rs100 billion has been set. There is a plan to increase exports from $32 billion to $60 billion in four years. He pointed out that Pakistani ports were working 50 percent less than their capacity. \u201cIf the volume of imports and exports is 90 billion dollars, it is expected to double in the next four years,\u201d he added.
\nQaiser Sheikh said that the trade opportunities in Central Asian countries were increasing rapidly, but they do not have their own ports, so they are depending on Pakistani ports. \u201cPakistan\u2019s fisheries exports are 400 million dollars while our neighboring countries are far ahead of us in this sector.\u201d The minister announced that the government of Pakistan had decided that 60pc of government imports and exports would be through the Gwadar port. \u201cThe Gwadar port will be equipped with world class facilities so that it can be transformed into a modern and complete port,\u201d he maintained.
\nOn this occasion, Mian Anjum Nisar emphasized that in order to achieve the target of 60 billion dollars in exports the government should formulate favorable policies and ensure that this year\u2019s budget is drafted according to the recommendations of stakeholders.
\nFahimur Rehman Saigol, during the meeting, urged Minister Qaiser Ahmad Sheikh to address the issues of the business community at the earliest so that traders and industrialists can continue their contributions to the country\u2019s economic growth without any hindrance. He also provided proposals regarding the improvement of shipping companies\u2019 operations related to imports and exports for the upcoming budget and discussed significant national issues in detail.
\nFahimur Rehman pointed out that the rising taxes and the increase in gas and electricity prices, compared to other regional countries, are continually raising production costs, which indirectly impacts the public.<\/p>\n","protected":false},"excerpt":{"rendered":"
Maritime Minister Qaiser Sheikh holds meeting with PIAF delegation Islamabad Federal Minister for Maritime Affairs, Qaiser Ahmad Shaikh has emphasized the importance of promoting regional trade for sustainable economic growth. While talking to the delegation of Pakistan Industrial & Traders Associations Front (PIAF), he said that concrete measures are being taken to develop the maritime […]<\/p>\n","protected":false},"author":2,"featured_media":464827,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-464807","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n