New officers were informed of trade, industry dynamics

In the framework of the 31st Specialized Training Program (STP), newly appointed officials of the Public Service of the Commercial and Commercial Group, Ministry of Commerce, visited the Pakistani Textile Council Headquarters (PTC) in Islamabad.

The meeting provided civil servants an in -depth understanding of the larger sector of Pakistan’s exports and its importance to the national economy. The officers were informed of the structure of the textile and clothing chain, its share of Pakistan’s total exports and the gross domestic product (GDP). The challenges faced by the industry and the political support needed to boost Pakistan’s exports have also been shared with the officers.

Providing a comprehensive presentation, PTC CEO Muhammad H Shafqaat underlined the vital contribution of textiles and clothing to economic growth and exports of Pakistan.
He informed them of the key challenges, including the high cost of uncertainty of businesses and politics, as well as the opportunities and challenges arising from the EU agreement on the future of Pakistan’s trade with the European Union, the country’s largest commercial partner.

He underlined the importance of adopting regional competitive energy, tax, salary and interest rates to compete well with regional economies such as Bangladesh, Vietnam, China and India, especially after mutual invoices imposed by the US.

The Minister of Commerce, while commenting on the visit, shared that such exercises are vital to the preparation of future policy -making responsible for a better understanding of industry reality, ensuring that Pakistan’s commercial policies respond to both the domestic challenges and challenges.
He said that “involvement with the private sector during training is critical to our newly acquired civil servants. These visits ensure that officers understand the real challenges facing the industry”.