Pakistan is an emerging economic power: PM Nawaz

KARACHI: Prime Minister Nawaz Sharif inaugurated the four-day 9th Expo Pakistan exhibition in Karachi on Thursday.

PM Nawaz while addressing the delegates at the Expo, said that Pakistan is an emerging economic power and the Expo is a representation of the country’s industrial tradition.

The PM said the fact that the Expo is being held in Karachi made it evident that the city holds great importance in the world of business.

He went on to say that the Expo has successfully attracted the attention of several foreign investors and economic growth is the top priority of Pakistan.
He added that foreign countries and international companies will be provided facilitation for investments in the country.

He also said that the Expo provides an excellent opportunity to showcase Pakistani products to the world.

The PM further said that Pakistani Basmati rice is known worldwide for its unique quality.

Regarding the textile industry, the PM said that Pakistan will boost exports to $26 billion by 2019.

He added that the grant of Generalised System of Preferences (GSP) Plus status to Pakistan by the European Union (EU) was a huge achievement.

PM Nawaz went on to say that a contract is in place for trade with South Africa.

He also said that preferential trade agreements with Iran and Indonesia have been finalised.

Regarding the energy crisis in the country, the PM said that the government is making the utmost efforts to resolve the issues. He added that the problem of electricity would hopefully be solved within the next three years.

He further said that speedy efforts were being made for the running of LNG and coal based power plants.

The Expo 2015 has over 1000 delegates attending from 75 countries.

The four day mega event is showcasing the largest collection of export merchandise and services including textile, leather, agro food, readymade garments, jewellery, engineering, handicrafts, chemicals, surgical, sports goods, and pharmaceuticals.

The Trade Development Authority of Pakistan (TDAP) expects to get export orders of over $1 billion from the Expo.

Chief of Army Staff (COAS) General Raheel Sharif is also attending.

PM Nawaz reached Karachi today on a one-day visit to review the implementation of decisions by the Apex Committee and to inaugurate the Expo.

According to sources, he is also likely to meet the family of late Justice Rana Bhagwandas to express his condolence.

The PM is expected to chair a high level meeting at Governor House with provincial ministers.