KARACHI - Karachi Chamber of Commerce & Industry’s President Muhammad Haroon Agar has stated that industrialisation and enhancing exports are the imperative solution to uplift the economy.

Exchanging views with World Bank’s Consultant on Trade and Finance Sadia Khan during her visit to KCCI, Haroon Agar voiced that setting up the sector-specific Export Promotion Councils and Export-Import (EXIM) Bank in Pakistan is imperative for promoting and developing the exports of the country.  Sadia Khan recognised the role of KCCI in socio-economic development of Pakistan and to promote commerce and industry.

She sought KCCI’s input to identify issues and challenges for traders to access trade finance facilities from financial institutions, to gauge demand for working capital and common means employed to address demand from both informal and formal channels and views on the notion that access to finance from formal sector is by large the factor hindering export trade.

Earlier, to achieve a milestone in enhancement of exports, Haroon Agar urged that Pakistan should focus to sign the Preferential and Free Trade Agreements particularly with friendly countries.

Export focus required on regional trade by encouraging exports to India and other SAARC countries, ASEAN countries, the Central Asian Republics, China, Middle East and North Africa, Iran and Eurasian region.

Due to energy crisis and high cost of manufacturing our export oriented industry is facing un-competitiveness. Export figure is not truly aligned with the existing export potential. Government should appoint Export Ambassadors in foreign countries who should be responsible for disseminating the useful information regarding local companies, buyer’s demand and supply trends, organizing exhibitions and fairs to help exporters to tap in new markets in all over the world, he added.

Ex-President KCCI Mian Abrar Ahmad, Senior Vice President Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting.