Lucrative incentives to be offered to industrialists for boosting exports: PM’s advisor
ISLAMABAD: Advisor to Prime Minister on Commerce and Textile Abdul Razak Dawood on Monday said lucrative incentives would be offered to industrialists and businessmen upon beefing up exports in the country.
“The government is formulating a policy to increase exports and decrease imports for economic stability of the country,” Abdul Razak Dawood said while addressing a prize distribution ceremony of three-day 11th mega ‘Interiors Pakistan’ international exhibition in Lahore.
He said the government was working simultaneously on short and long term policies to boost economy of the country.
The advisor said because of business-friendly policies of the government, Pakistan had climbed 28 points on the World Bank’s ease of doing business index that had given an encouraging signal to the investors from abroad.
He said the government would negotiate with Japan, Vietnam, South Korea and other Pacific and South East Asian countries for promotion of trade.
On Nov 18, Abdul Razak Dawood had said that exports of the country had increased because of prudent policies of the government.
“The foreign investment is not only creating new job opportunities but also bringing more technological advancement in the country,” he had said while addressing a ceremony in Lahore.
The adviser had said the China-Pakistan Economic Corridor projects would have a positive impact on Pakistan’s economic growth.
On Nov 11, Prime Minister Imran Khan’s Adviser on Finance Dr Abdul Hafeez Sheikh had said the government had decided to give 300 billion rupees subsidised loan for industrialists to increase exports.
“The government has decided to give 200 billion more rupees to exporters as loan to increase exports in the country. The interest rates would be lowered for them and the difference would be paid by the government on loan from this amount,” Abdul Hafeez Sheikh had said while addressing a press conference in Islamabad. He was flanked by Federal Minister for Economic Affairs Muhammad Hammad Azhar and Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan.