ISLAMABAD: Caretaker Prime Minister Anwarul Haq Kakar has directed relevant authorities to formulate an effective strategy to increase the share of industries in Pakistan’s gross national product (GNP) from the current 12 per cent to its full potential.

The premier held a meeting to review the performance and targets of the Ministry of Commerce, Industries and Production.

An official announcement stated that the prime minister also instructed the swift formulation of a national industrial policy to accelerate economic development and industrial production in the country. Directives were also issued to expedite the privatisation of loss-making state-owned enterprises.

The ministry projected to raise $2 billion from exports of precious stones and minerals in the next two years. The strategy to achieve the target was shared with the premier. PM Kakar directed to organise training programmes to teach local artisans relevant skills through modern technology to unlock the full potential of gemstone exports.

Kakar briefed on plan to raise IT exports to $5bn

The premier was briefed on the activities of Pakistan’s officers posted abroad to increase trade and investment. In addition, the meeting was informed about the ongoing consultation with relevant stakeholders for the establishment of the Land Port Authority.

Mr Kakar emphasised the use of electronic warehousing to promote e-commerce in the country.

Plan to boost IT exports

Separately, PM Kakar was informed that work was under way on a plan to increase information technology (IT) exports to over $5bn.

During a meeting, chaired by the prime minister the Ministry of IT presented its plan for increasing the country’s IT exports and discussed measures aimed at developing the IT sector in the country.

The meeting was informed that the ministry was working to centralise all government services at the federal level through digitalisation. It would enable the government to enhance the tax collection system and identify tax evaders.

The meeting was also informed that it would become mandatory for all university students across the country to get IT training of international standard.

“These measure would help increasing the international standard skilled workforce in the IT sector by over 200,000 that would help increasing the IT exports up to $5bn,” the meeting was told.

The prime minister was told that the ministry was taking measures to provide training and facilities to the free lancers and facilitating easy inflow of remittances.

These measures include interest-free loans to the private sector for the provision of co-working spaces, access of freelancers to internationally popular payment service providers and provision of fast speed internet. After the implementation of these measures, it will be possible to increase the exports of this sector by $3bn.

The government is also taking steps for easy access to loans and investment for i-startups, due to which external investment of $1bn dollars is expected in the next six months. The ministry also presented the plan for bringing reforms in telecom sector and provision of high speed 5-G service.

Karachi traders

In a separate meeting with Governor of Sindh Kamran Tessori, PM Kakar assured that the federal government would address the issues of Karachi traders on priority, APP adds.

The governor of Sindh briefed the prime minister about the administrative matters and the overall law and order situation in the province. He also presented recommendations regarding power tariffs prepared by the Karachi Chamber of Commerce and Industry and the city’s traders.

PM meets CEO of Huawei

CEO Huawei Pakistan Ethan Sun meets PM Kakar to share ongoing and potential collaborations to develop the ICT ecosystem and digital economy in Pakistan.

The prime minister said that “technological advancement and enhancement of ICT opportunities for the youth and women had the potential to usher in a brighter future of Pakistan”.

Published in Dawn, September 7th, 2023