Gohar Ejaz eyes $100bn exports with new zone

Caretaker Commerce Minister Gohar Ejaz has said that exports will cross $100 billion in the next five years if the 10,000-acre new industrial zone in Karachi is materialised, which will also create three million new jobs. Addressing the business community at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday, Mr Gohar said the new industrial zone would be aligned with international standards. The business community can simply triple its earnings if it plays its due role in the accomplishment of targets set by the economic team of the government, he said, adding that it is a win-win situation. According to FPCCI’s press release, Mr Gohar shared his deep concerns over the state of Pakistan’s economy; specifically, trade deficit, rupee depreciation, low number of active tax filers, anomalies in Afghan transit trade, reliance on the external sources of financing and dearth of the active participation of the business community in the policy-making.