He said he was visiting various chambers of commerce and industry of Punjab to get the input of the private sector on their major issues and based on their feedback, Punjab Government would review policies to facilitate businessmen and investors. He said that the industry should focus on producing value-added products to improve exports. He said the business community should cooperate in broadening the tax base of the country. He said this while addressing the business community at the Multan Chamber of Commerce and Industry (MCCI).
Sardar Tanveer Ilyas Khan said that many people have kept money in lockers that were not benefiting the economy and urged that such money should be brought into the formal economy to promote economic activities. He said Punjab has 68000 industrial units with 11 industrial zones and Punjab Government was working to create more industrial zones, especially in remote areas to promote industrialization and job creation. He said that MCCI should send written proposals that would be given due consideration and assured to cooperate in addressing the highlighted issues of the business community.
Speaking at the occasion, Sheikh Fazal Elahi, President, Multan Chamber of Commerce and Industry said that Multan is geographically very important place which interlinks all major cities like Karachi, Lahore, Quetta, Peshawar of Pakistan while it located very close to Pak-Iran Pipeline project. .He stressed the need for liaison between Multan Chamber and PBIT. Sheikh Fazal Elahi said that the Punjab Government should cooperate in establishing a special economic zone for Multan that was badly needed to promote industrialization in the region. He said Punjab Government should offer attractive incentives to the investors of Multan for Joint Ventures and investment in SEZs in Punjab under CPEC. He thanked the Chairman PBIT for donating a huge amount for the Library of Agricultural University Multan. He said that the Multan chamber is a pioneer in South Punjab which had completed its 60 years.
He said the government should introduce a licensing system for every business to promote formal economy. He said the government has made a significant increase in gas and electricity tariffs, taxes and markup rates that have created great hurdles for the private sector and stressed for addressing these issues on priority to facilitate business and investment activities. He said stamp duty for registration of property should be reduced from existing 9 percent to 1 percent that would give a boost to the real estate industry and create plenty of new jobs.
Mian Rashid Iqbal Senior Vice President MCCI said that the government should make long term investment and economic policies that would facilitate the private sector in long-term business planning. He said consistency in policies was basic requirement to promote economic activities.
Former Presidents M.Sarfraz, Khawaja Muhammad Yousaf,Khawaja Muhammad Usman,Ex-Chairman of PCGA Haji Muhammad Akram Bhatti,Sheikh Muhammad Aasim Saeed, Sheikh Muhammad Amjad Ex-Vice President,Syed Iftikhar Ali Shah, Sheikh Ahsan Rashid, Dr.Khalid Khokhar, Majidullah Khan, Khawaja Muhammad Fazail, Sheikh Faisal Saeed, Azhar Baloch, Aurangzeb Alamgir, Khawaja Salahuddin, Khawaja Muhammad Hussain and other joined the meeting and highlighted various issues that needed urgent attention of the government for promoting investment, trade, industrialization and exports.
