Federal budget: Govt to provide relief to industrial sector: minister

ISLAMABAD: Federal Minister for Industries and Production Syed Murtaza Mahmood on Sunday said that the government would provide relief to the industrial sector, especially women entrepreneurs, as the upcoming budget would be business friendly and pro-poor. He urged the women entrepreneurs to play their due role in boosting economic activities for achieving sustainable economic growth and social prosperity in the country.

While talking to a delegation led by Federation of Pakistan Chamber of Commerce and Industry (FPCCI) led by Vice President Rafat Malik, the minister said that private sector was the catalyst for economic growth and the government would facilitate them in promoting business activities which would help in reviving the economy.

We are intend to take the country forward by ensuring sustainable economic growth, he said adding that Pakistan needed a big increase in exports to meet its economic challenges and reducing pressure from its foreign exchange reserves.

He urged the business community, especially women entrepreneurs to play their role in economic development of the country as government was working hard for economic turn around, rupee stability against dollar. Pakistan needed a big jump in exports to cope with economic challenges and urged the business community to play role to boost exports, he expressed.

He said that private sector was the driver of economic growth and the government would facilitate them in promoting business activities that would help in reviving the economy.

He stressed the need for productivity enhancement and competitiveness of SMEs in the local and global market to achieve sustainable development in Pakistan. The federal budget will be a business-friendly budget, he said adding that the government would take solid initiatives to utilize the potential of women entrepreneurs through NPO, SMEDA, TUSDEC and other relevant MoIP organizations so that women entrepreneurs could excel in their relevant fields. The government is focusing on entrepreneurial opportunities for sustainable employment growth, skill-based education, and engagement of youth and women in socio-economic affairs, he added..

Speaking on the occasion, Riffat Malik, Vice President of FPCCI, said that women have been playing a pivotal role in the growth of the export-oriented industries and all other sectors of national economy. One of the objectives of FPCCI was to unite businesswomen as well as women workers in order to create new opportunities for them and providing them level playing field create for them, she expressed.

She urged the government to support them to help encourage entrepreneurship among women entrepreneurs.

The FPCCI wanted to ensure that the confidence of women to work with equal rights along with men in every sector of the economy, she said adding that ignoring half of any country’s population was counter intuitive in promoting the economic growth of any economy.

She urged the government to formulate policies for the promotion of women business, stress on legislation for ease of doing business and providing a conducive environment to women for their economic empowerment.