LAHORE
The Lahore Chamber of Commerce & Industry has urged the Pakistan’s foreign missions across the world to establish display centers for organizing single-country exhibitions in order for Pakistani products to secure due place in the global market.
“Display centers for Pakistani merchandise, as well as cultural centers, would highlight the industrial strength of the country around the globe while latter would attract the foreigners to discover beauty and heritage of this beautiful piece of land,” said the LCCI President Abdul Basit.
Vice President Muhammad Nasir Hameed Khan said that extraordinary moves needed to be taken as Pakistan’s exports were hazardously low despite the fact that country has all resources to become an “Export Power House”.
They both said that establishment of display centers by the Pakistani missions abroad would help introduce Pakistani products to the international buyers.
LCCI said that the days are gone when foreign missions were working for just diplomatic relations. They said that now foreign missions of the developed countries are playing the role of “Economic Ambassadors” for their respective countries.
They also remarked that Pakistan’s diplomatic relations with the world would automatically strengthen with a strengthening of trade and economic relations.
The LCCI office-bearers said that they would have to shift focus from the developed countries to the emerging markets where scope for Pakistani products is much higher.
They added that growth in the most developed countries is slowing down while developing economies are expected to grow around 8pc annually. It means that there would be more opportunities in developing countries than the developed world and their emerging market performance would be great.
They cited the example of Japanese companies where sales growth is driving largely from a progress in emerging markets. They said that we have to target middle and low-class of the developing countries that could give a massive boost to the Pakistani products.
They said that government would have to address those issues that are hampering the growth of Pakistani exports. They said that one of the biggest challenges is that we have underestimated the speed at which emerging economies are changing. They said that not only developed but most of the developing countries respond quickly to these changes and got huge benefits.
The LCCI office-bearers said that government should support the export-oriented industry and take relief measures that would make it possible for this sector to flourish.
They said that relief package for all export-oriented sectors would help triple the national exports in a shortest possible time. They said that food sector of Pakistan has the ability to generate huge foreign exchange for the country, therefore, this sector should also be declared zero-rated.
Abdul Basit and Muhammad Nasir Hameed Khan urged the Prime Minister Nawaz Sharif to direct the concerned departments to take action in this regard and also direct to the Pakistani missions abroad to establish display centers for Pakistani products and cultural centers to drag economic benefits.
