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Pakistan government will consider abolishing regulatory duty on steel-The 19th China (Guangzhou ) Int’l Casting product Exhibition
4/10/2018 铸件展-casting expo-Die-casting expo-foundry expo |
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Tribune reported that Pakistan Federal Minister for Commerce and Textile Muhammad Pervez Malik has said that the government will consider abolishing regulatory duty on steel. His statement comes as the government continues to negotiate terms with China in the second phase of the Free Trade Agreement. While talking to Lahore Chamber of Commerce and Industry President Malik Tahir Javaid, in an exclusive meeting, the federal minister said that concrete measures are being taken to boost the country’s exports.
He urged the private sector to meet international standards and better marketing of products to compete effectively.
Talking about declining exports, LCCI President Malik Tahir Javaid said that major factors contributing to the decline of Pakistan’s exports are high cost of doing business, lack of product and market diversification, low level of technological advancement, non-compliance of international quality standards, underdeveloped human capital and unskilled labor.
He said that Pakistan has to move from low value-added to technology-intensive high-value-added manufacturing in order to get its share in the international trade.
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