The Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood says in upcoming budget industry would see major policy initiatives including technology up-gradation and tariff rationalization encouraging domestic and international investment.

He was chairing a meeting of the Ministry of Commerce's Think Tank on COVID-19 through video-link today.

The Advisor to Prime Minister said that the COVID-19 has brought a change in the world and has badly affected the economy.

He underscored that the situation is also an opportunity to reshape the business models.

Abdul Razak Dawood highlighted that the present government is not only taking care of the core export sectors but it is facilitating the emerging sectors.

The industry representatives acknowledged the steps taken by the government in the last one and half year which have started paying the dividends before the disruption created by the COVID-19 crisis.

Appreciating the ideas put forth by the members of the Think Tank, the Advisor to Prime Minister said that Pakistan needs innovative approaches for rapid growth by increasing our share in international as well as domestic markets.

The industry representatives vowed to come up with more proposals within a week after consulting stakeholders in different sectors.