Dr Shamshad for improving quality of local products to decrease imports

ISLAMABAD: Caretaker Finance Minister Friday said that improving the quality of local products at par with international standards was imperative to discourage imports into the country.

The minister was talking to a delegation of the Pakistan Business Council (PBC) led by Ehsan Malik and Bashir Ali Mohammad that met her here, according to a press statement issued by the ministry. She said that the private sector should explore options for boosting exports and avail opportunity offered through the establishment of Special Economic Zones (SEZs).

The minister appreciated the proposals put forth by the delegation, saying these would be valuable for the future elected government, urging PBC to send their detail tax and other proposals to the government so that work could be initiated by relevant ministries for consideration of the new government.

The Minister agreed on the need for a more effective stakeholder consultation mechanism, adding that Pakistan industry needed to examine all options of managing their competitiveness.

She agreed on the need for dealing with the root causes of the energy liabilities such as transmission and distribution losses that have aggravated the circular debt problem.