From Business Correspondent
LAHORE: Prime Minister’s Advisor on Commerce, Textile, Industries & Production and Investment Abdul Razak Dawood said yesterday that Pakistan had huge potential for export of engineering goods. He was chairing a consultative session with the business leaders from the Engineering Development Board (EDB), held at the National Fertilizers Corporation of Pakistan (NFC) headquarters here.
He said that engineering products’ export was under performing due to multiple challenges including policy conflict and lack of required policy support from the government.
He said that the EDB had the mandate to make industrial sector of Pakistan vibrant by paving the way for transfer of technology including global best practices and aligning the domestic engineering industry with the global trade and technology trends.
“The EDB can promote pioneer industry that can be instrumental in product and market diversification, which is critical for export growth,” he added.
Earlier, Secretary Industries and Production Azher Ali Chaudhary highlighted the importance of the engineering sector in terms of industrial development, exports and job creation. He promised institutional and policy support for the growth of engineering products and revamping the EDB. The business community welcomed and appreciated the revival of the EDB and tabled proposals for making it effective and vibrant in providing the required support to the engineering sector of the country.
The incumbent government has recently revived the EDB and it intends to align it with its regional and global counterparts so that it could best serve the industrial interests of the country. Later, the PM’s advisor held meetings with pharmaceutical sector, chief executive officers of the Power Electronic Pakistan (Electronic 3 Wheelers) and Small and Medium Enterprises Development Authority (SMEDA).