Govt to support local industry through lucrative incentives: Dawood

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Adviser to Prime Minister on Commerce and Textile Abdul Razak Dawood said on Saturday that the government was making policies to increase the volume of export and decrease the inflow of imports in order to ensure economic stability.

Presiding over a meeting on “Export Strategy” in Karachi, Dawood said the government wanted to support local industry by offering lucrative incentives to industrialists and businessmen.

The adviser said the government was working on short and long-term policies simultaneously to boost the country’s economy.

Earlier on November 18, former planning minister Khusro Bakhtiar had said that under China Pakistan Economic Corridor’s (CPEC) next phase, the industrial base of the country would be expanded which would help in increase the country’s exports.

Addressing the 3rd annual two-day conference on CPEC Consortium of Universities in Islamabad, he had said the Chinese government would invest $1billion in the socio-economic sector of Pakistan including cooperation in higher education.

“China had a total trade volume worth $4000 billion with the world; however, Pakistan had only $80 billion of trade with the global market,” he had noted.

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