Pakistanis to focus on barter trade to boost exports, says Abdul Hafeez Sheikh

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LAHORE :     Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh Saturday stressed the need for promotion of barter trade with an exclusive focus on boosting export of Pakistani products in the global market instead of depending on one way heavy import devouring hard earned foreign exchange.

Talking to a galaxy of representatives of APTMA, automobile, agriculture,
and veteran trade leaders in his maiden interaction with Gohar Ejaz, LCCI
President Almas Hyder, former FPCCI President Zubair Tufail, former LCCI
President Mian Muhammad Ali and others including Chairman United Business
Group Iftikhar Ali Malik, he said that government attached great importance
for further strengthening of harmony with private sector and will take all
stakeholders into confidence in important policy decisions..He said
Pakistani exporters should prefer barter system being practiced
successfully by several countries worldwide.

He gave patience hearing to the textile proposals put forth by Gohar Ejaz
and assured him of full co-operation and support from government in help
addressing their issues and giving due weightage to their suggestions in
the greater national interests.

He said that textile, agriculture, automobile sectors, engineering industry
and SMEs play important role in national economy and government will
address their genuine grievances being confronted by them on top priority.
He further stressed the urgent need for broadening of tax net and asked the
people to take full advance of amnesty scheme which he termed it a gold
chance to be availed.

About agriculture sector he said that local hybrid seed be used instead of
foreign because it suits to our land and to taste of the people of
Pakistan. He said that per acre yield agriculture production can be
increased manifold with the application of modern agricultural implement.
He said that government will also provide persuade the farmer to bring all
arable areas under plough for boosting agricultural production in the
country.

Regarding automobile industry, Dr Abdul Hafeez Shaikh said that foreign
companies are evincing keen interest for investment in this sector while
local industry will also be fully protected and national interests will be
safeguarded equally.

He said that it is now time to translate the dream of “Be Pakistani and Buy
Pakistani” to help promote local industry and business instead of spending
on foreign made products. He said that local products are equally better
and cheaper.