Industrial sector development imperative for country’s economic progress: PM

PM invites Austrian Chancellor to visit Pakistan

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ISLAMABAD, Prime Minister Imran Khan said that since the development of the industrial sector was essential for the country’s economic progress, the government was taking steps to achieve that on a priority basis.

It was for the first time that a policy of Small and Medium Enterprises (SMEs) was introduced in the country, he said and added that due to the government’s successful policies, the wheels of the industry continued to turn during the COVID-19 pandemic.

The Prime Minister was presiding over a high-level meeting on the development of the industrial sector in the country.

Federal Ministers Shaukat Tarin, Asad Umar, Khusro Bakhtiar, Hammad Azhar, Governor State Bank Reza Baqir, and senior officers attended the meeting.

The meeting was briefed in detail about the current capacity of the industrial sector and the future strategy for its development.

It was told that owing to the government’s business-friendly policies, the country’s industrial sector achieved a lot of progress despite the COVID-19 pandemic, which was also evident from the running of the textile industry to its full capacity.

The meeting was further told that the government’s package for the development of the construction sector not only brought about economic improvement but also helped create ample job opportunities in the country.

It was told that the government was focusing on enhancing the share of the manufacturing sector in the country’s Gross Domestic Product (GDP) to 25 percent from the current 12.5 percent.

Besides the provision of jobs in the country, the development of the manufacturing sector will help improve the overall state of the economy.

The meeting was further told that the government has formulated a comprehensive strategy for boosting the existing capacity of industries, reviving the sick units, encouraging investment in IT, plants, and machinery, and enhancing foreign investment. The strategy was being implemented on a priority basis.

Besides, it was told that measures were also being taken to enhance the investment of Overseas Pakistanis and for the development of SMEs in the country.

The Prime Minister directed to take measures to encourage investment in the industrial sector on a priority basis. Earlier, Prime Minister Imran Khan on Friday describing the Overseas Pakistanis as a precious asset said the government was taking measures for the protection of their investment and capital in the country.

The Prime Minister was talking to a delegation of the Pakistan Association in Dubai which led by its Chairman Dr. Zia-ul-Hassan called on him here. President of the Association Dr. Faisal Ikram and Mumtaz Muslim were also present.

Matters relating to the interest taken by Dubai-based Pakistanis in the government’s business-friendly policies were discussed in the meeting.

The participants also appreciated the government for providing the right of vote to Overseas Pakistanis in the country’s elections, introducing the Roshan Digital Account (RDA) scheme for funds’ transfer and for taking other measures to protect their rights. Prime Minister Imran Khan Saturday said that he had extended an invitation to the Federal Chancellor of the Republic of Austria Karl Nehammer to visit Pakistan.

On his Twitter handle, the prime minister posted, “I invited him to visit Pakistan & look forward to receiving him here. Our first concern is how to avert the humanitarian crisis in Afghanistan. We would also like to collaborate on developing northern areas tourism & furthering tech (technical) collab (collaboration) on the model of Pak-Austria Fachhochshule IAST.”

In the related tweet, Karl Nehammer said that he had received a good call from Prime Minister of Pakistan Imran Khan. He said they discussed the situation in Afghanistan & the need to stabilize the country, in particular by providing humanitarian aid.

PM invites Austrian Chancellor to visit Pakistan

Karl Nehammer

“I’ve just had a good call with PM Imran Khan, PTI of Pakistan. We discussed the situation in Afghanistan & the need to stabilize the country, in particular by providing humanitarian aid. We also took stock of our good bilateral relations & discussed our economic cooperation,” the Australian chancellor posted in a tweet.

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