Leading Industrialist and former President of Pakistan Chambers of Commerce and Industry (FPCCI) S.M. Muneer has said that national economy will be back on track by July this year. Talking to Business Recorder he said that the textile sector was the worst hit of unprecedented energy crisis therefore, it suffered loss of billions of rupees.
"It would be difficult to achieve export target fixed for the current fiscal. However, revenue targets are likely to be met with the efforts of the Federal Board of Revenue." When asked about rising cost of doing business in the country, he said, "We have no competitive edge on competitors, as our exporters are facing a lot of difficulties due to high cost of production."
Muneer further said that Pakistan needed to overcome these problems before its too late. He praised Federal Minister Shaukat Tarin for making an effort to put the economy back on track. "It is great achievement that the government spent 105 billions of rupees less on oil import in the first half of the current fiscal."
Comments
Comments are closed.