ISLAMABAD    -    The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to focus on policy measures for better development of engineering sector.

Ahmed Hassan Moughal, President Islamabad Chamber of Commerce and Industry, said that Pakistan has been depending on textiles products for exports while the share of textiles exports in the global market was reducing while that of engineering goods was rising.

He said the engineering goods constituted around 50 percent of the world trade while, Pakistan’s share of engineering goods in global exports was just 0.015 percent which was very negligible. It showed that the country was losing huge export potential by ignoring engineering sector. He said that Pakistan could earn billions of dollars of exports by creating an enabling environment for engineering sector.

Ahmed Hassan Moughal said that Pakistan has formed Africa Look Policy and urged that government should facilitate exporters to promote engineering businesses in different untapped markets of African countries as well as in European Union by making their products competitive.

He said that for the last many years, Pakistan’s exports were on declining trend and added that the best way to reverse this trend was to focus on engineering sector. He said that better development of engineering industry was also key to social and economic progress.

He said the need for developing this strategically important sector was universally recognized as the engineering sector has the potential to create immense employment opportunities, promote auxiliary and ancillary industries besides creating numerous other benefits.

Rafat Farid, Senior Vice President, and Iftikhar Anwar Sethi, Vice President, said that many countries have achieved phenomenal progress by developing engineering sector and Pakistan should also pay special attention to this important sector in order to emerge as a strong economy in the comity of nations.