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Miftah Ismail Chaired the meeting of Monetary and Fiscal Policies Coordination Board on Friday.
The meeting was also attended by the Deputy Chairman Panning Commission, Finance Secretary, Governor SBP, Acting Secretary Commerce and Dr.
The Board emphasized to increase IT exports as well as enhancing measures to export food, vegetables, meat and in this connection ensure compliance of SPS obligations. The delegation discussed with the Minister some tax-related issues faced by the towel manufacturers and also shared with him the steps aimed at product improvement by value addition and research & development.
The board also resolved to continue its works to have meaningful deliberations for a sustained and improved economy. The Minister said that textile industry has a significant share in Pakistan's exports and the government values its contribution in foreign exchange earning.
The delegation thanking the Minister for the meeting, extended him invitation to visit the Karachi Chambers of Commerce and Industry.
It was also informed that Large Scale Manufacturing’s sector like, electronics, iron and steel products, automobiles, non metallic mineral products, coke & petroleum products, paper & board, rubber products, engineering products, pharmaceuticals, food beverages & tobacco and textile are showing better performance.
Inflation has been contained at 3.8 percent during first nine months of current year on account of effective monetary policy alongwith better supply of commodities.
Large Scale Manufacturing (LSM) also recorded an impressive growth of 6.3 percent during first seven months of the current year.
Wells called on Adviser to Prime Minister on Finance, Dr. They discussed Pak-US ties with focus on economic cooperation.
The overall security situation in the region also came under discussion. Wells and said that such bilateral visits enhance understanding of each other’s point of view on important issues.