Here's How Pakistan plans to diversify its exports into globally competitive engineering products

Advisor to the Prime Minister on Commerce, Abdul Razak Dawood, recently chaired an internal review meeting called to discuss the finalization of the Strategic Trade Policy Framework (STPF) at the Commerce Division. In the meeting, he stated that one of the objectives of the STPF is to achieve diversification of export products rather than exporting the same old products.

In the meeting, Abdul Razak Dawood also spoke  talked about the emerging sectors for export opportunities. He mentioned that Pakistan’s engineering products, especially home appliances, are now producing internationally competitive quality products.

Following this, the Advisor Commerce said that Pakistan is rapidly diversifying its exports into high quality and globally competitive engineering products. Considering the promotion of exports in new sectors, particularly the engineering and pharmaceutical sectors, he said:

We are going to reduce our reliance on the five traditional export sectors. This mission has been supported in the Budget 2020-21, as import duties on raw materials and the tariff rationalization measures are reduced.

A draft STPF in this regard was sent to the stakeholders for review. Their views on the draft are now being incorporated in the final draft. This final draft will shortly be placed before the Economic Coordination Committee (ECC) of the Cabinet.

In the meeting, Abdul Razak added that in pursuance of the diversification policy, the export of microwave ovens from Pakistan had been confirmed for the first time. The ovens are going to be exported by Dawlance, a Turkish investment in Pakistan.

The Advisor Commerce is of the view that other engineering products will soon follow suit as the government reduced the duties on the import of television components. Due to this, the local manufacturing of television sets will be promoted as television sets have export potential. rewrite sentence please doesn\\’t make sense He believes that with the government’s support, they will be exported to the rest of the world.

Moreover, the government recently announced the first-ever Mobile Phone Manufacturing Policy. This policy made the Advisor to the Prime Minister on Commerce, Abdul Razak Dawood optimistic, who said that this policy it would soon showcase an increase in exports of locally manufactured mobile devices from Pakistan.

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  • That is good news. But i always has doubt on this guy. He resisted technology business(IT) in Pakistan during an interview with Nadeem Malik. PTI about to start third year and we still having these small news here and there. World moves much faster than that. He probably protecting his business or his friends business interests with slow pace. Watch  Nadeem Malik interview and you will see this guy intensions. Yah unn kii roozi pay laat maar raha hai jinno nai PTI ki vote dya tha

  • I am still pissed at govt for not prioritizing IT sector, we can make India run for it’s nlmoney as a low cost location. They have failed to realize that Pakistan is a cheaper country oozing with Engineers and IT professionals looking at govt to show them direction. Govt should try to lure international companies such as Amazon, Google, Automotive giants etc. Trust me I have worked with some multi billion dollar companies who have huge engineering/IT centers in India and they are mostly unsatisfied with the quality. And main locations in India such as Bangalore etc are becoming expensive day by day. Govt should establish Engineering cities near University towns like Islamabad, Lahore and Karachi.

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