Govt should formulate supportive policies for paper industry: LCCI

LAHORE: The government should formulate well-consulted and well-thought-out supportive policies for Pakistan’s paper industry, a vital sector that underpins education, publishing, packaging and other industries but is currently facing significant challenges.

This was crux of the speech of LCCI President Mian Abuzar Shad and Senior Vice President Engineer Khalid Usman delivered to over 200-member delegation from the All Pakistan Paper Merchants Association (APPMA) at the LCCI. Former LCCI Presidents Mian Anjum Nisar and Muhammad Ali Mian, Ahad Amin Malik, Bau Muhammad Bashir, Khalid Pervez, Muhammad Ajmal, Chaudhry Fazal Karim, Sabir Bhatti, Hassan Raza, Sharaft Hussain, Imran halid, Waqas Malik, Qayum Raza, Malik Hani also spoke on the occasion.

President LCCI Mian Abuzar Shad reassured the APPMA delegation of the chamber’s commitment to advocating for the paper industry’s interests at the highest levels of government. He said that targeted support, such as cut in import duties on raw materials and tax relief, could be critical in helping the industry navigate current challenges.

He proposed that the government consider lowering import duties on raw materials essential to paper manufacturing, making them more affordable for local businesses. Reducing these duties would help decrease production costs, benefiting both industry stakeholders and consumers.

The LCCI officials also recommended lowering the sales tax on the paper industry to ease financial pressures, reduce production costs and enhance the competitiveness of local products.

Former LCCI Presidents Mian Anjum Nisar and Muhammad Ali Mian stressed the importance of stable energy costs and urged the government to take measures to stabilize electricity rates, enabling paper manufacturers to operate profitably without compromising quality.

LCCI leaders underscored the paper industry’s key role in Pakistan’s economy, supporting sectors such as education, media, and packaging. With billions of rupees in annual revenue, the industry directly employs over 200,000 individuals, supporting numerous families across the nation. Its growth is essential for the national economy, contributing to literacy initiatives, export packaging, and substantial employment.

The LCCI office-bearers pledged to present the paper industry’s issues to the government to ensure a conducive environment for growth. They noted that addressing these challenges would bolster the competitiveness of Pakistan’s paper industry and enhance its contribution to the country’s economic resilience, fostering a more robust and diversified economy.

Copyright Business Recorder, 2024