Pakistan, WB discuss business reforms, e-commerce activities
Pakistan and World Bank (WB) on Wednesday discussed the mutual cooperation on tariff rationalization, ease of doing business reforms and ECommerce activities under the Ministry's E-Commerce policy.
The newly appointed Country Director of World Bank for Pakistan, Najy Benhassine, called on the Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, at Ministry of Commerce, said a press release issued here.
During the meeting, various matters for mutual cooperation were discussed, particularly support for institutional strengthening of Ministry of Commerce and same on tariff rationalization, ease of doing business reforms, and ECommerce activities under the Ministry's E-Commerce policy.
The advisor shared an overview of different reforms and activities with the Country Director WB.
Talking about the tariff rationalization, Dawood said that the government had already revised the tariffs on raw materials and intermediaries with the objective of incorporating the remaining sectors in a phased manner, within the next three years. The advisor added that the government was laying far greater emphasis on promoting Make in Pakistan and export led growth through this exercise as well as by focusing on objectives of product and geographical diversification.
Discussing the significance of services industry, Dawood underscored that Pakistan had tremendous untapped potential of enhancing the exports of services, particularly the IT sector.
He talked about the ECommerce policy of the government where the experience of World Bank could be helpful in knowledge management as well as enabling the Small and Medium Enterprises to introduce E-Commerce platforms for enhanced market outreach.
The advisor also appreciated the technical support of World Bank to Board of Investment regarding Ease of Doing Business and other business climate reforms.
He underlined that Pakistan would continue to follow the reform goals with the same momentum. Further avenues of cooperation under the Strategic
Trade Policy Framework were also discussed in the meeting.
President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Anjum Nisar Wednesday urged the government and private sector to join hands for raising its forest cover from 5 per cent to 25 per cent to meet the ever growing needs of furniture industry in Pakistan.
Congratulating Mian Kashif Ashfaq CEO Pakistan Furniture Council (PFC) for holding successful 3-days 12th Interiors Pakistan expo at Sialkot, said a press release issued here.
As the global economy is expected to be more challenging this year In wake of Covid 19 he urged the furniture industry to remain resilient by innovating, adopting technology as well as diversifying export markets in order to sustain demand in the long run.
"We have to overcome challenges to strengthen our market share; we must continue to produce innovative and market-oriented products to meet challenging times," he added.
Anjum Nisar said in the absence of enough supplies of wood, cheaper furniture made of fancy and laminated sheets of chipboard has flooded the local market. He said wooden furniture, like that of shishum wood, is quite expensive that is why Shishum's furniture is made for selected buyers only.
He said the Pakistan furniture industry has the potential to be a substantial one at multiple levels as it can contribute significantly to the GDP and employ numerous people with varying skills in specialist furniture. He vociferously acclaimed Pakistani furniture designers and craftsmen and suggested that these experts should play their part in enhancing furniture exports.
"The country has excellent craftsmen and designers, who can virtually give life to a piece of wood," he said, adding that
Pakistani craftsmen should work in this particular area to earn much-needed foreign exchange," he added. Kashif Ashfaq termed Interiors Pakistan' mega exhibition a truly memorable experience and aimed at exploring new opportunities for enhancing volume of mutual trade in furniture sector.
He also thanked President Sialkot Chamber Qaiser Iqbal Baryar, Chairman Air Sial Fazal Jillani and President Pakistan leather garments exporters association Hassan Ali Bhatti and others tycoons for gracing the expo and made it a success in Sialkot which was ever event of this nature in city.