The Pakistan Business Council is looking for a plan to increase competitiveness.
ISLAMABAD: To increase the general competitiveness of domestic companies, the Pakistan Business Council (PBC) has urged the commerce ministry to develop a comprehensive package targeted at streamlining vital components including power, gas, and labor.
The PBC presented its demands in a high-level meeting presided over by Caretaker Commerce Minister Gohar Ejaz, and a thorough discussion regarding the strategies and initiatives aimed at promoting export growth, bolstering international trade, and improving the overall business environment in Pakistan took place.
According to a statement made public following the meeting, the PBC recommended strategies to address major problems and seize important possibilities in the nation's economic arena. The PBC outlined a number of initiatives to solve the pressing problems facing Pakistan's economy.
The PBC emphasized the need of streamlining essential components including labor, power, and gas in order to increase enterprises' overall competitiveness. The PBC emphasized the importance of the IT industry and pushed for a shift in emphasis away from commodities and toward value addition and branding.
The discussion at the summit focused on ways to facilitate corporate operations and improve global trade.
The minister, Mr. Ejaz, reaffirmed his steadfast dedication to promoting economic expansion and advancing trade. He promised that correct routes will be used to facilitate regional trade and strengthen regional economic connections. He urged the PBC members to step forward and take responsibility for formalizing the economic activity. Additionally, Mr. Ejaz emphasized the government's commitment to preventing smuggling activities and providing fair competition for legal enterprises. He promised to "visit every industrial city and put every industry into operation."
The trade minister also announced his plans to expand into new markets, improve IT exports, and encourage online shopping in order to raise Pakistan's GDP. He also spoke about intentions for setting up trade shows and obtaining discounts from business associates.