PM Kakar urges strategy to boost industries in Pakistan

ISLAMABAD: Caretaker Prime Minister (PM) Anwarul Haq Kakar has issued directives to relevant authorities to devise a comprehensive strategy aimed at increasing the contribution of industries to Pakistan’s gross national product (GNP).

According to Dawn.com, the goal is to raise the current 12 per cent share to its maximum potential.

The media reports said that in a recent meeting convened to assess the performance and objectives of the Ministry of Commerce, Industries, and Production, the prime minister emphasised the urgent need to formulate a national industrial policy.

Interim PM said that the meeting is vital to accelerate economic development and enhance industrial production within the country. Furthermore, he called for the expeditious privatisation of underperforming state-owned enterprises.

The reports indicated that the Ministry of Commerce, Industries, and Production presented an ambitious plan to generate $2 billion from exports of precious stones and minerals over the next two years.

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Meanwhile, PM Kakar expressed his desire to organise training programs utilising modern technology to equip local artisans with the necessary skills to fully exploit the potential of gemstone exports.

During the meeting, the interim premier was also briefed on the efforts of Pakistani officers stationed abroad to bolster trade and investment. Additionally, discussions centered on ongoing consultations with relevant stakeholders regarding the establishment of the Land Port Authority.

In a separate development, Prime Minister Kakar was informed of efforts to boost information technology (IT) exports to over $5 billion. During a meeting chaired by the prime minister, the Ministry of IT presented a comprehensive plan for expanding the IT sector within the country and increasing its exports.

As per Dawn.com, the plan involves centralising all government services at the federal level through digitalisation, a move intended to improve tax collection and identify tax evaders.

Furthermore, the meeting also disclosed that it will soon become mandatory for all university students across Pakistan to receive international-standard IT training, ultimately creating a workforce of over 200,000 skilled IT professionals to drive IT exports to $5 billion.

Meanwhile, the government is taking steps to provide training and support for freelancers, including interest-free loans for the establishment of co-working spaces, access to international payment service providers, and fast-speed internet connectivity. These measures are expected to boost the sector’s exports by $3 billion.

In a bid to facilitate startups, the government is streamlining access to loans and investments, expecting an influx of $1 billion in external investments in the next six months. The Ministry also outlined plans to reform the telecom sector and provide high-speed 5G services.

During a separate meeting with Sindh Governor Kamran Tessori, Prime Minister Kakar assured that the federal government would prioritise addressing the concerns of traders in Karachi. The governor briefed the prime minister on administrative matters and the overall law and order situation in the province. Recommendations from the Karachi Chamber of Commerce and Industry and the city’s traders regarding power tariffs were also presented.

Additionally, PM Kakar met with the CEO of Huawei Pakistan Ethan Sun to discuss ongoing and potential collaborations aimed at developing Pakistan’s ICT ecosystem and digital economy. The prime minister emphasised that technological advancements and increased ICT opportunities for youth and women hold the potential to create a brighter future for Pakistan.