SCCI chief for setting up SEZ in Sialkot

President Sialkot Chamber of Commerce and Industry (SCCI) Majid Raza Bhutta has suggested that Sialkot Export Processing Zone (SEPZ) should be given the status of Special Economic Zone (SEZ) under China Pakistan Economic Corridor (CPEC) for further accelerating the export activities at golden triangle comprising Sialkot, Gujranwala and Gujrat.
Talking to Business Recorder on Tuesday, he said the conversion of SEPZ into SEZ would enable the business community of Sialkot, Gujranwala and Gujrat to set up their individual industrial units in SEZ. "Major export oriented cities like Sialkot can be strong contenders for setting up SEZ and Sialkot is only export oriented city of the country where 99 percent of manufactured products exported to international markets," he said.
Majid underscored the need of setting up SEZ in Sialkot and Chinese investors should be encouraged to bring their investment and technology. The SCCI President also suggested that government should identify high priority sectors for export and ensure concessions and incentives to encourage the export of respective sectors. "It is very unfortunate that SEPZ was established since long where very few industrial units were functioning and purpose of SEPZ was not achieved," he added.
For development of export sector and to turn around the declining trend of export it was imperative for the government to devise a sound sector specific strategy and a vision with defined objectives, he said.
In order to achieve the positive results it was important that high priority sectors and potential sectors should also be identified depending on level of production and supply, potential contribution to exports, demand in international market and capacity to contribute towards the economic development of the country, he pointed out.
The SCCI President further added the government should provide special incentives to encourage the export of high priority sectors like textile and clothing, surgical and dental instruments, leather products, sports goods, footwear, gems and jewellery and furniture. Similarly, potential sectors like surgical implants, composite products, light engineering products, printing and packing, sports wear, fitness apparel, gloves and musical instruments etc., needed special focus and facilities to perform optimally, he added.
Majid proposed the government should provide interest free loan on 10 percent of the total exports for the import of new technology and enabling exporters to upgrade their industrial units for enhancing production inefficiencies. The SCCI President further stated that exporter community was making strenuous efforts for enhancing the export volume despite certain problems confronted by the business community adding that government should take immediate steps for resolving the problems on top priority basis.