Covid-19 an opportunity to reshape business models’

Covid-19 an opportunity to reshape business models’

ISLAMABAD: The Covid-19 pandemic has brought about a change across the globe and also affected the economy negatively, said Adviser to PM on Commerce Abdul Razak Dawood.

Chairing a meeting of the Ministry of Commerce’s Think Tank on Covid-19, he pointed out that the situation was also an opportunity to reshape business models.

The adviser further stressed the need to be innovative both domestically and internationally to explore these opportunities. “This is imperative not only to sustain our share in traditional markets and products but also to explore new avenues especially in the services sectors,” Dawood said.
He highlighted that the present government was not only focusing on the core export sectors but was also facilitating emerging sectors of the economy.

He said that diversification, economies of scales, competitiveness, technology upgrade, tariff rationalization, and encouraging domestic and international investment were the government’s prime focus. The industry will see major policy initiatives in the upcoming budget, the adviser added.

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