This will improve overall technological infrastructure of the industry and encourage the manufacturers to import latest machinery, he said.
Talking to reporters on Friday he suggested that the government should take drastic steps for streamlining existing markets and identification of new potential markets for Made in Pakistan products.
The Commerce Ministry in collaboration with Trade Development Authority of Pakistan (TDAP) and other trade associations should work on streamlining the existing markets and identify potential markets, he said.
About decline in exports, he said we have observed that our exports are mainly targeted to specific regions which were facing economy slowdown.
Zahid said that there was a great need for formation of a high powered Export Monitoring Committee that keeps an account of policies to be formed and their implementation. The committee should also identify the problems related to the export and recommend possible remedies as well as solution for overcoming the issues, he said.
He further added that effective strategies should be devised for tapping the potential of the markets and special step should be taken for initiating negotiations for the free trade agreements.
In addition, essential resources should be deployed for gathering market intelligence and creating trade linkages, he said.
Sialkot is a export hub and earning US 2 billion dollars through its export and strengthening national exchequer despite of certain problems confronted by the local business community, he maintained.
Zahid said that keeping in view the contribution and importance of Sialkot government should take step for setting up Special Economic Zone in Sialkot to facilitate the business community of Gujrat, Gujranwala, Sialkot and many other adjoining areas.
The SCCI chief suggested that Sialkot Export Processing Zone (SEPZ) should be given the status of Special Economic Zone (SEZ) to facilitate business community of Gujrat, Gujranwala and Sialkot.
Copyright Business Recorder, 2017