ISLAMABAD – The ICCI here Thursday urged the government to take steps for improving competitiveness of the industry that would help enhance exports from the country.
ICCI Acting President, Asad Farid, in a statement issued here said that the competitiveness could be improved by ensuring uninterrupted power supply to the domestic industry adding it would also help improve exports of the industrial units. He said that the country could not afford rise in trade deficit for long term with the current level of foreign exchange reserves.
He said that the export oriented industries have failed to maintain export target due to severe energy shortage.
He also stressed the need for taking measures to bring stability in rupee value against dollar so that rapid increase in import bill could be controlled.
He cited the example of China, which has been continuously trying to maintain its trade balance by controlling value of its currency.