ISLAMABAD: Adviser to Prime Minister on Commerce Abdul Razak Dawood has said projects like Allama Iqbal Industrial city (AIIC) are indispensable for the industrial development of the country and our country’s exports have increased by seven percent as production line has gone up despite difficult environment.
Talking to Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) , Mian Kashif Ashfaq on Tuesday, he said the trade gap is narrowing down as exports are showing steadying trajectory while imports have reduced by four billion Dollars.
He held country’s exports have increased by seven percent as production line has gone up despite difficult environment Razak Dawood said overall current account deficit has also improved.
He said in term of quantity, the exports of garments went up by 29 percent, cement 25 percent, basmati rice 21 percent and footwear 26 percent in the current fiscal year.He said the situation on economic front is not as bad as being portrayed by some quarters.The Adviser said the government has provided subsidy to export-oriented sector on electricity and gas and it would be continued in coming year.Mian Kashif Iqbal said FIEDMC project will provide employment to 250000 persons.
Domestic and international investment to the tune of Rs 400 billion will be made. Development work is continuing on fast track basis here.