KARACHI: Prime Minister Syed Yusuf Raza Gilani Saturday said Pakistan’s real GDP growth was likely to remain close to the target of 3.3 per cent during the fiscal year (2009-10) and the foreign exchange reserves have risen from US 6 billion to $14.7 billion.

Addressing the 33rd FPCCI export awards ceremony, the prime minister said the government was conscious of the need to further bring down the cost of doing business in Pakistan and necessary steps were being taken on urgent basis.

“The key policy making institutions understand that the only prescription to survive in the existing tough situation is to become more competitive, quality conscious and innovative,” Gilani said.

He said Pakistani business community can compete in the international market effectively while keeping these principles in view. He also assured that the FPCCI would be taken into confidence on all important policy decisions.

He said it has led to improvement in Pakistan’s sovereign rating, while remittances from overseas Pakistanis have hit a record mark of $800 million in October 2009.

Gilani said Ministry of Commerce as part of initiative has recently provided Rs. 27.3 million from Export Development Fund for opening of FPCCI offices in China and Brussels for better export marketing.

He also acknowledged the support of the business community at the time of national disasters. “Their fund raising movement for displaced persons is highly commendable,” and urged them to play the same role for the displaced people of North and South Waziristan.

He said government was cognizant of the fact that military operation was no solution and was working on the reconstruction of devastated areas and was making social and economic reforms.