Time appropriate to win trade concessions: official

LAHORE: Federal Secretary Commerce Zafar Mehmood has said the
government is utilising all its resources to get trade concessions from
the European Union and in this regard an EU company has already been
hired to get things done in the shortest possible time.

was speaking at the Lahore Chamber of Commerce and Industry on Friday.
The secretary commerce said it was the most opportune time to win trade
concessions from the United States and the European Union as the
developed world had realised that Pakistan should be compensated for
being the hardest hit in the war on terror.

He said Pakistan was
eyeing substantial trade concessions both from the EU and the US as it
direly needed a huge amount to cope with various challenges being faced
by the industrial sector.

To a question about the Trade
Development Authority of Pakistan, the federal secretary said new rules
and regulations were being framed which would be implemented in a
transparent manner.

On the issue of foreign investment, he said various options were being considered to encourage both local and foreign investors.

on the occasion, LCCI President Zafar Iqbal Chaudhry urged the
secretary commerce to seek foreign expertise for small hydropower
plants and alternative energy units as the country urgently needed to
develop and upgrade the sector.

He said the establishment of
Halal Board would help the country get recognition in the global Halal
market as its key objectives were to assist and facilitate the
development of Halal industry and processes.

He hoped the Ministry of Commerce would extend financial assistance to the Halal Board for the sake of economy of the country.