MULTAN, Nov 13th: Present government is working on an economic package, including special incentives for the industry to keep the wheels running. Government's commitment to implement export-led growth policy incentivizing the exporting industry is heartening and will provide impetus to country's exports and rationalizing import duties on raw materials to reduce the cost of doing business will help certainly render our exports more competitive in the world, said Khawaja Jalaluddin Roomi, President of Dera Ghazi Khan Chamber of Commerce & Industry Initiatives such as regionally competitive electricity and gas prices for exporting industry (DCCI) former President of MCCI, Ex-Chairman of Multan Dry Port Trust in his welcome address at a dinner in the honour of Presidents and other office-bearers of different Chambers of Commerce & Industry at his residence. He said that the government's determination to reduce the cost of doing business, the textile sector is willing to invest in its manufacturing infrastructure and upgrade production units with a view to enhancing exports. He was optimistic that Imran Khan's Government will surely take corrective measures to further facilitate exporting industry which is envisioned to increase textile exports from $13.53 billion (FY2017-18) to annually $29.15 billion (FY2023-24) with an additional accumulative investment of $9.30 billion.He said that decrease in cotton acreage, per hectare yield and imprudent government policies have taken a heavy toll on cotton production. Pakistan's cotton production up to November Ist,2020 fell by 43.32 per cent. To protect the cotton industry from further downfall, concrete policies are needed. The cost of cotton inputs should be reduced and a new version of Bt technology seeds should be provided to farmers. Efforts should also be made to explore the feasibility of cotton production in newly available arable areas. He said that Pakistan was declared a safe country in the first phase COVID-19 and we have received a large number of demands from foreign buyers which had encouraged our industry. FPCCI President Anjum Nisar said in his address that Government had reduced the policy rate on or demand which had strengthened the industry and every one eulogised this step. Prime Minister Imran Khan has provided relief to the industrial sector by announcing a reduction in electricity tariff along with other incentives. He said the relief package would benefit small and medium enterprises (SMEs), reduce electricity tariff by 50pc on surplus consumption and by 25pc in other industries, adding that the government had abolished peak-hour tariff and the reduced tariff on used electricity, which is a laudable step. Federation President said," I assure in the presence of central leaders of industry from Karachi, Lahore, Rawalpindi, Peshawar, Faisalabad, Multan, Bahawalpur, Dera Ghazi Khan and Islamabad that I will protect the rights of the business community on each and every platform. The dinner was also joined by Zikiya Usman, Ghani Usman, Muhammad Ali Mian, Mian Nasir Hayat Maggo, Athar Chawla, Khurram Saeed, Ghulam Ali, Sheikh Muhammad Aslam, Sultan Ahmed Chawla, Col(Retd) Baqar Ahsan, Aqueel Bhutta, Mian Ahsan Rashid, Altaf Shahid, Khawaja Shahbaz Khan, Ghulam Ali Bilore,Tariq Saeed, Muhammad Irfan Sheikh, Ch. Zulfikar Ali Anjum, Khawaja Muhammad Farooq, Salim Nasir, Mian Aamer Nasim, Dr Col Ghauri, Sheikh Waseem Ahmed, Ch. Zulfikar Ahmed, Mian Faisal Mukhtar,Asif Majid, Khalid Masud Khan, Khawaja Hassamuddin Roomi, Khawaja Muhammad Yousaf, Khawaja Muhammad Younas Chairman APBUMA, Zulfikar Ali Nasuha,Dr. Muhammad Shafiq Pitafi,Irfan Sheikh, Jahanzeb Akram, Nadeem Qureshi,Mehnaz Amer,Rabia Salim, Filza Mumtaz and Mian Muhammad Arif.
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BUSINESS