LAHORE (APP): The Punjab Board of Investment & Trade would be re-structured to boost its performance, besides establishing new wings pertaining to research, trade and export.

Talking to APP, the newly appointed CEO of PBIT Amena Cheema said that special attention would be paid to bring in foreign investment while local investors would also be convinced to diversify their business.

She said that input would be sought from academia as researchers and students of universities would be assigned to work with PBIT to indicate emerging sectors in the country. These experts would also provide plans for SMEs.

“If think tanks and professors from reputable universities and private sector of the country provide input it could result in significant development in different sectors”, Amena highlighted.

She said that local businesses are a growing sector in Pakistan and over the past few years the government has formed favourable policies and incentives to promote growth and increase compatibility of local businesses in Punjab.

Exports contribute significantly to the economy of Pakistan,and the government has constituted result oriented policies and incentives to encourage exporters.

The government aims to develop new markets for Pakistani exporters in India, Russia and Central Asia, she added.

The CEO said that Pakistan is the fourth largest cotton producer and third largest cotton user in the world. The textile sector is the largest manufacturing industry in Pakistan and contributes one fourth of the total value added produce of the manufacturing sector. The industry derives its competitiveness from availability of cheap raw material i.e. cotton, a pool of skilled manpower and widespread ancillary support from dyeing, chemical and other industries.

Special business plans would be provided to local businessmen to enhance quality of their products,she said,adding that they would be facilitated through different departments.