Underlining the importance of the use of latest technologies in the industrial sector to improve productivity and competitiveness of products, Prime Minister Shaukat Aziz has called upon the private sector to use innovative technologies for enhanced production, exports enhancement and trade substitution.
The Prime Minster was talking to Hasib-ur-Rehman, Chairman, Aisha Steel, who called on him at the Prime Minister House on Saturday morning.
The Prime Minister said that Pakistan is gradually shifting its focus from agriculture-based economy to industrial economy, and production of high value-added goods. He said to facilitate industrial development the government is focusing on bridging the skills gap and 'Technical and Vocational Training Authority' has been set up to address this issue. Also, the government has been investing heavily on development of human capital to build a knowledge-based economy and to create the core competence required for industrial growth.
He said that to expedite industrial development the government was establishing 'Industrial Parks' and textile and garment cities which would immensely contribute to better production and quantum jump in the country's exports. "This is encouraging increase in domestic and foreign investment, and foreign direct investment (FDI) is expected to be a record $3 billion this year."
Secretary, Board of Investment and seniors officials also attended the meeting.-PR
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