Only boosting exports to take country out of economic crisis: PM

ISLAMABAD: Prime Minister Imran Khan on Monday said only an increase in exports can take the country out of the economic crisis.

Only vegetables or other small items are exported from the country, which cannot start the journey of development, he said while addressing the inaugural function of the Pak-China Business Investment Forum (PCBIF) here. Khan said that the country would develop only if industrial sectors were developed and exports increased.

He said India has made remarkable progress in the IT sector and is offering its services abroad while the exports of IT sector in Pakistan have doubled in just one year. While citing the example of Turkey, the prime minister emphasised that all the developed countries attached importance to exports.

He contended that the most important thing is that the history of our friendship with Beijing spans over 70 years. They are ready to cooperate with us in any way, he said. The prime minister said China is ready to cooperate with us but we have never formulated a policy based on national priorities. He said the government has decided to develop the industrial sector and increase exports in the context of economic policy.

He emphasised on technological reforms in the agricultural sector and said China has made remarkable progress in the field of agriculture while Pakistan is relying on the tools used in ancient times.

He said Pakistan is rapidly changing into urbanisation but in this regard ‘we are facing two threats, one is food security and the other is that the greenery is rapidly disappearing. On this count, we can learn a lot from China, which has come up with innovative ways of urbanisation and is now doing vertical development."

Imran said a visit to China is expected next week, the final decision of which will be in the context of corona situation. The prime minister, however, said the trip, if it takes place, would also focus on urban planning.

According to the PM's Office, the forum aimed at enhancing information exchange and promoting communication between businesses of the two countries, thereby opening up new avenues of cooperation. The forum consists of 18 Chinese and 19 Pakistani companies and its objective is to promote sustainable investment, export industry and development of modern technology in Pakistan.

The forum has been formed with the collaboration of the Board of Investment Pakistan and All Pakistan Chinese Enterprises.