'Cut in tariffs to help step up industrialisation'

Reduction in power, gas and other utilities tariffs, besides cut in taxation, would help in rapid industrialisation and would also provide a chance to compete in the international market, Rawalpindi Women Chamber of Commerce and Industry (RWCCI) President Samina Fazil said here on Tuesday. While talking about women entrepreneurs' budget proposals, she said, the government should consider the proposals came from various chambers and trade organisations and ensure reduction in tariffs in order to help the industrialists in reducing production cost.
"Without reducing the production cost our products would not compete in the international market," she said, adding that another factor is that of quality.
She said that countries like Korea, Taiwan and Indonesia have attained industrial growth by reducing tariffs. She said the entire world is reducing tariff on their products to enter in the competition with other countries. "Pakistan is no exception to the rest of the world. We are working on the same line in order to book a good market space for our products," she added.
Women, she said, are half of the total population of the country and without involving them in the socio-economic activities, the desired goals of economic stability and industrialisation would never be achieved. "The government should take measures to help in promoting women entrepreneurs in their efforts to set small industrial units," she said, adding that special funds should be allocated in the budget for promotion of Small and Medium Enterprises (SMEs), particularly for women.
Talking about the problems being faced by the local industry, Samina said that the cost of doing business in Pakistan is very high, which could keep industrialists on the back seat in the world market. High rates of electricity, petroleum products and other utilities, uneducated labour force and lobbying are the main causes of rise in the cost of business, she added.
She stressed upon the need to make efforts for creating awareness among the people about the WTO laws. Quotas have been eliminated and now all the countries have an equal opportunity to enhance exports. While appreciating the government Samina said that the current trade policy is investor-friendly.