LAHORE – Prime Minister’s Advisor for Commerce and Investment, Abdul RazakDawood said on Tuesday that Pakistan’s trade deficit was reducing with thepassage of time.
He was talking to media persons at 35th World Fashion Convention jointlyorganized by Pakistan Readymade Garments Manufacturers and ExportersAssociation (PRGMEA) and International Apparel Federation here at ExpoCentre. PRGMEA Chief Coordinator Ejaz Khokhar, IAF President, FederalCommerce Secretary Ahmed Nawaz Sukhera, local and foreign observers besidesa large number of people belonging to this industry attended the convention.
Abdul Razak said Pakistan’s rating on World Bank’s index had been improved,and according to IMF (International Monetary Fund), the country was movingin right direction on economic front. Pakistan’s business community wasplaying its part for bringing improvements in the economy.
To a question, he said Free Trade Agreement (FTA) with China would beimplemented by December and this would further promote the apparel sector,adding that Pakistan’s garment industry had great potential to grow andPakistan made garments were very famous worldwide and country’s apparelindustry showed 17 per cent growth.
He added that the present government was providing all possible facilitiesto this important sector of the economy so that the country’s exportsrevenues could be increased.
He mentioned that investors from the western world were also participatingin the convention and they were eager to increase Pakistani garment brands’import to their respective countries.
To another question, he said Pakistan was in the IMF Programme, adding IMFteam had also expressed its satisfaction that Pakistan’s economy was now onright track, while its trade deficit was also narrowing down.
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He claimed that trade deficit would substantially reduced by June next year.
Abdul Razak also urged the investors to bring investments to Pakistan andtake huge benefits of the investment opportunities available here,asserting that this convention proved that Pakistan’s image was improved atinternational level.
PRGMEA Chief Coordinator Ejaz Khokhar said 90 per cent of the foreignerswere those who came to Pakistan first time and they were happy to seeLahore.
He mentioned that 35 Pakistani brands were representing the country atinternational level and our garment industry was growing at a faster pace.
