ADB to help increase export diversity

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ISLAMABAD: The Asian Development Bank (ADB) in collaboration with the Ministry of Commerce will initiate a pilot programme aimed at increasing the level of diversification and sophistication of the export basket. The programme will also help country s policymakers to implement more effectively the recently announced trade and textile policies, said an official announcement released here on Tuesday. The government of Pakistan and the Asian Development Bank (ADB) have launched new initiatives under the name of Pilot Dialogue for Structural Transformation (PDST) engaging public and private sector in dialogue at the product level with the objective of identifying missing public inputs that are crucial in order to export successfully, the announcement added. To achieve the objectives underlying the PDST initiative, the official release further said that the government has set up a high-level steering committee in the ministry of commerce for initiating ten pilot programmes. It further said that the ten products include gems and jewellery, meat and preparations, non-metallic mineral manufactures, dairy products, oils and perfume materials, medicinal and pharmaceutical products, general industrial machinery and equipment, bonded fibre fabrics and textiles fabrics for use in machinery or plant. The ultimate objective of these dialogues is to fill in this missing gap that is crucial for many firms to be able to increase their exports of high-value products. The PDST is part of work between the Government and the ADB on Accelerating Economic Transformation , whose objective is to help the country implement a series of measures and reforms that lead to a virtuous cycle of industrialization, growing employment, increasing productivity and ultimately prosperity, it said.

In the past also the focus of subsidising was mainly on profitability, not on increasing productivity and there were administrative complexities and duplications. There is a long record of support to the textile and garment sectors that has created a bias in resource allocation, the statement added. The steering committee will oversee the pilot dialogues and will give regular guidance to the taskforces. It will also review the final reports produced by the taskforces and will approve the final action plans for implementation. The Steering Committee for the execution of the programme is comprised of representatives from Ministry of Commerce, Ministry of Industries and Production, Ministry of Textile, Ministry of Finance, Planning and Development Division, Ministry of Food and Agriculture, Ministry of Livestock and Dairy Development, Ministry of Science and Technology and the Federal Board of Revenue. Other industry support and trade and export promotion agencies such as SMEDA (Small and Medium Enterprise Development Authority), TDAP (Trade Development Authority of Pakistan), TUSDEC (Technical Up-gradation and Skill Development Company) and PITAD (Pakistan Institute of Trade and Development) are also part of the Steering Committee.


Courtesy: The News

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