Talking to a business delegation, Abdul Razak Dawood, the prime minister's aide, underlined 'it is imperative to enhance the industrial base for revitalisation of the economy and industrial growth.' He emphasised that expansion of the industrial base would lead to industrial growth, competitive import substitution
, export enhancement, employment creation and revenue generation.
Thaver said the union hopes the new CEO would comprehend the requirements of the sector for subsidized finance, setting up of Special Economic Zones for SMEs, filling of technological gap, global marketing support and tax relief and incentives for innovative, import substitution
industries, facilitating, supporting, motivating and encouraging the farm sector and agro based units.
To increase exports in non-conventional and value-added sectors, the government must first encourage local import substitution
and provide a favourable environment to industry.
PWC, however, noted that if the CBN effectively executes its five-year monetary policy thrust to boost economic activities and output, especially with respect to inducing credit to the real sector, agriculture activities and small and medium enterprises (SMEs), there will boost in domestic production which will result in enhancing the import substitution
policies of the Federal government (FG).
"It means we are having import substitution
," he said.
Summary: New Delhi [India] June 11 (ANI/BusinessWire India): Rostec State Corporation, Russian Railways and VEB.RF (Vnesheconombank) have signed a roadmap for import substitution
of digital products used in the railway industry.
Only if our economic managers had reformed the tax machinery in a way so as to widen the tax net without further burdening existing taxpayers, only if we had decided to develop our industrial base for employment, import substitution
and revenue generation and if only we had focused on value-added exports to curb trade imbalance.
The memorandum envisages creation of a new website for import substitution
and support for SMEs in Azerbaijan.
Local producersquestion if there is a need tocorrect market conditions tofavor local businesses.The economic affairsministry has prioritizedCSI sector in the 12th Planfor import substitution
.However, Economic AffairsMinister Loknath Sharmatold Business Bhutan thatthe ministry cannot imposerestrictions on import as ameans to promote domesticproducts.
CEO IMC, Ali Asghar Jamali said, 'Localization create jobs, provide import substitution
, secure foreign exchange and contribute phenomenally towards Pakistan GDP.All these factors are needed to reduce trade deficit and to improve macroeconomic condition.
To a question about Indian ban and imposition of 200 percent custom duty on Pakistani goods, he said it's now time for our industry to show self-reliance on cotton production and import substitution
for dyes and chemicals.