He lamented that the World Trade Organisation, in its document, pointed out Pakistan’s negligence closer to managing those important sectors at a time when the economies around the sector are undergoing a process of digitization.
He emphasized the need for cooperation among federal and provincial IT departments to ensure a holistic approach to address problems related to those sectors.
Faruqui stated that promoting the offerings sector is the need of the hour because nations worldwide earn up to 30 according to cent in their foreign exchange through tourism.
Regarding TDAP reforms, he said there is a pressing need to enhance the employer’s potential by bringing in structural changes within the legal framework. Despite resource constraints, TDAP has to evolve into a dynamic and responsive employer equipped to cope with the challenges of digital technology, he said.
As a change facilitator, TDAP would work on product diversification and logo development. It becomes important to have an analytical approach to external trade statistics and product advertising, he introduced.
He also mentioned that paintings promoting Pakistan at the Expo 2020, to be held in Dubai, have been initiated, for which globally acclaimed consultants have been employed to increase a green strategy. Moreover, he said that the Emirates had asked Pakistan to apply its expo website as an ordinary showcase window.
Answering a question concerning the financial exchange settlement with China, he stated that the phrases are being renegotiated simultaneously as including that under China China-Pakistan Economic Corridor, there is an urgent need for early harvest for Special Economic Zones.
To stand demanding situations bobbing up out of digitization of economies, the federal and provincial governments, together with local governments, must develop a consensus over troubles bobbing up after the 18th Amendment, he maintained.
