The Pakistan Chamber of Commerce Federation (FPCCI) welcomed B2B negotiations with Saudi Arabia on Tuesday and emphasized the need to improve the standard of Pakistani goods and services in order to maximize the potential of the deal. In a press briefing at the headquarters capital office, FPCCI senior officials welcomed bilateral negotiations with the private sector in Saudi Arabia. The most important part of this convention is that the Crown is directly overseeing this business agreement," said FPCCI President Daroo Khan Achakzai.
FPCCI Sees More Joint Ventures with Saudi Investors
The private sector has for the first time taken the opportunity to take the initiative in devising business deals. Achakzai, together with Mirza Ikhtiar Baig and Vice Chairman Saarc Chambers of the Mosk Chamber of Commerce, stressed that the agreement with technical leaders of the FPCCI will be key to MoU's success. Pakistan's Saudi standards, the Quantitative and Quality Organization (SASO) and PSQCA will work together to improve Pakistan's goods and services standards for export to Saudi Arabia, he added.
At that time, Baig welcomed the establishment of the Saudi-Pak joint venture. On each side, a council of 10 will hold their first meeting next month. The leader of FPCCI stressed to reduce the high rate of increase. Pakistan, on the other hand, has a strong foundation in industry, agriculture and research, but Malik said that modernization and investment are necessary to compete in a changing global environment. Pakistan is allowing 100% ownership, but we expect to expand the economy and jump into the agriculture industry as a joint venture with the Saudi business community.
He suggested that the Pakistan business community and the government should adapt to the changing business environment around the world. Our product and service standards should be in accordance with the standards of the importer, and after improving the standards of human resources we should approach that we should invite our people to other Muslim countries," he added.
FPCCI leaders have also blamed measures taken by the government of India to harm the business environment across Asia recently.
ECC orders uninterrupted urea Supply
The Cabinet's Economic Coordination Committee (ECC) said on Tuesday that to ensure sufficient supply of fertilizer, the State Food Security Research Institute (NFPA) on continuing operation of two elementary factories - Fatima Fertilizer and Agaricus - I ordered the bureau. The demand and supply situation of urea and DAP fertilizer will be revised through stock review in August, and it is decided if necessary.
The meeting was chaired by finance minister Asad Umar
Overseas Pakistan and Human Resource Development briefed ECC on the current location of labor exports to various countries and efforts to find employment opportunities in the international labor market, including the Gulf. The Federal Ministry of Education and Professional Training notified the ECC that it had developed a data bank of more than 600,000 skilled workers who had graduated from the National Vocational and Technical Training Commission platform. Task Force consisting of personnel exports.
The ECC ordered the formation of a special Pakistani Cabinet and ministerial level task force to formulate specific proposals with clear objectives for human development and export. The ECC also approved an amendment to the Import Policy Directive 2016 to further enhance the existing labeling requirements for food, particularly 'halal' product imports. This step ensures the clarity of Urdu imported food ingredients for consumers. The Ministry of Industry and Trade provided the committee with up-to-date information on the status of the National Accountability Bureau on the Pakistani steelworks.
In this case, the ECC indicated concern about the slow progress of the case and instructed it to actively pursue the case. The commission instructed to initiate the placement of personnel names on the exit control list being investigated elsewhere. The Federal Board of Revenue (FBR) submitted a report emphasizing the current location of the abandoned container / lot auction, detailing the difficulties faced in handling and processing consignments and procedures at the port.
ECC directs a committee led by the Marine Affairs Officer, focusing on streamlining procedures and promoting e-clearance, to propose proposals for fast and efficient cargo containership and vehicle cargo handling to reduce port port congestion and facilitate business performance. Improve it. The committee will share the proposal with ECC within two weeks.
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