Businessmen laud appointment of Dr.Miftah as advisor to PM

Business community and industrialists of South Punjab have lauded the appointment of Dr Miftah Ismail as Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, with the status of federal minister and expressed their full confidence in Dr Miftah’s ability and expertise to uplift the economy as he is a renowned businessman. President of Multan Chamber of Commerce & Industry Malik Asrar Ahmed Awan, Senior Vice President Begum Romana Tanvir Sheikh, Vice President Khawaja Muhammad Farooq, Former Presidents of MCCI Khawaja Jalaluddin Roomi,Mian Mughis'A Sheikh, Mian Iqbal Hassan, Khawaja Muhammad Yousaf, Khawaja Muhammad Usman,Mian Tanvir A Sheikh, Mian Anis A Sheikh  expressed heartiest felicitation on the appointment of Miftah Ismail as Adviser to the Prime Minister. They appreciated his enthusiasm to focus on resolving the social and economic challenges faced by the county.They welcomed the decision of federal government to appoint Miftah Ismail as adviser to the Prime Minister. They said that Miftah holds the highest credential for the post and business community see a ray of hope with this appointment.They were of the view that despite of capabilities and qualities of leadership Miftah can't achieve export targets unless he takes steps for the removal of hurdles hindering exports of textile sector. They should invite and consult with us to overcome these.
Utilities costs such as power, gas and water are very high compared to our competitor country. For instance steam cost per ton per hour for Pakistan is $16.44 and for Bangladesh its only $5.6. Whereas the electricity/Kwh for Pakistan is 0.21$ while in Bangladesh it is 0.11$
Chairman of All Pakistan Bedsheet & Upholstry  Manufacturers Association (APBUMA) Syed Muhammad Aasim Shah,while felicitating Dr.Miftah on his appointment as Adviser to the Prime Minister on Finance, Revenue and Economic Affairs said that he must pay his attention towards making business in viable.He  highlighted the low cost of labour in Bangladesh goes in favour of exporters. While the minimum wage is around $68 in Bangladesh, in Pakistan it is $125 and rising. Their exports are now increasing at $3.5 billion per year and expected to hit $50 billion per year by 2020. Additionally the lower utilities cost further benefits the manufacturer, he pointed out. He termed funds blockage another reason behind the continuous drop in exports. He said the export sector was unable to tap its potential as per its capacity.Pointing towards the stiff competition offered by global rivals such as Vietnam and Bangladesh, chairman of APBUMA  sought the lower utilities cost further benefits the manufacturer.Pakistan's major competitors such as India, Bangladesh and China were utilizing all the channels and resources for capturing the world market. “Under the prevailing situation we need to opt for similar approach to survive well in the market.”