Published On: Sun, Jun 2nd, 2019
Published in Category: Lahore

Pakistanis to focus on barter trade to boost exports, says Abdul Hafeez Sheikh

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LAHORE: Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh Saturday stressed the need for promotion of barter trade with an exclusive focus on boosting export of Pakistani products in the global market instead of depending on one way heavy import devouring hard earned foreign exchange.

Talking to a galaxy of representatives of APTMA, automobile, agriculture, and veteran trade leaders in his maiden interaction with Gohar Ejaz, LCCI President Almas Hyder, former FPCCI President Zubair Tufail, former LCCI President Mian Muhammad Ali and others including Chairman United Business Group Iftikhar Ali Malik, he said that government attached great importance for further strengthening of harmony with private sector and will take all stakeholders into confidence in important policy decisions..He said Pakistani exporters should prefer barter system being practiced successfully by several countries worldwide.

He gave patience hearing to the textile proposals put forth by Gohar Ejaz and assured him of full co-operation and support from government in help addressing their issues and giving due weightage to their suggestions in the greater national interests. He said that textile, agriculture, automobile sectors, engineering industry and SMEs play important role in national economy and government will address their genuine grievances being confronted by them on top priority.

He further stressed the urgent need for broadening of tax net and asked the people to take full advance of amnesty scheme which he termed it a gold chance to be availed. About agriculture sector he said that local hybrid seed be used instead of foreign because it suits to our land and to taste of the people of Pakistan. He said that per acre yield agriculture production can be increased manifold with the application of modern agricultural implement.

He said that government will also provide persuade the farmer to bring all arable areas under plough for boosting agricultural production in the country. Regarding automobile industry, Dr Abdul Hafeez Shaikh said that foreign companies are evincing keen interest for investment in this sector while local industry will also be fully protected and national interests will be safeguarded equally. He said that it is now time to translate the dream of “Be Pakistani and Buy Pakistani” to help promote local industry and business instead of spending on foreign made products. He said that local products are equally better and cheaper.