Federal Industries and Production Minister Jehangir Khan Tareen has stressed the need to improve the image of Pakistan in the international market. While addressing a reception, which was hosted by renowned industrialist Almas A. Khan, he said that the government has started exploring potential of Pakistan in the engineering sector.
He was of the view that future of the world trade will be linked to the engineering sector and said that around 50 percent of the world trade was related to engineering sector, while textile sector only accounted for 6.6 percent of the total world trade.
He said that Prime Minister Shaukat Aziz during his tenure as finance minister, has constituted "Engineering Vision 2005" with the help of Abdul Razak Dawood. "The recommendations of that plan that were shelved a few months ago, were being considered again.
He said that participation from the private sector was being ensured in Pakistan Industrial Development Council (PIDC). The meeting of PIDC would be held in Karachi in the second week of December," he added.
He said that the government has also decided to constitute an implementation committee, which would ensure implementation of policies framed by Smeda. He said that the National Industrial Estate Development Council (NIEDC) would accelerate the process of providing industrial infrastructure across the country.
He also said that Punjab Chief Minister Chaudhry Pervaiz Elahi would inaugurate Faisalabad Industrial Estate Development Company during the next few weeks.
Addressing on the occasion, Almas Haider said that Technology Upgradation and Skilled Development Company has been established that would help in improving technology standards of industry of the country.
He said that Rs 1 billion has been allocated for this purpose, which would be doubled next year.
"Around 11 engineering companies of Pakistan would participate in an international exhibition, which was being held in January and the government would try to provide financial assistance to this delegation. We have convinced Commerce Minister Humayun Akhtar Khan to provide Rs 35 million from Export Development Fund," he added.