Federal Minister for Production and Industries Mian Manzoor Ahmad Wattoo has directed the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) to establish facilitation centres for proper investment and timely guidance to Pak expatriates returning home in the wake of global recession.
Talking to APP here on Monday, the minister said that Prime Minister, Syed Yusaf Raza Gilani desired that special facilitation centres must be set up at both public and private sector levels across the country to facilitate the expatriates returning due to world-wide recession. Wattoo said a special desk would be established at his ministry in this regard, while special facilitation centres will be set up by FPCCI, an apex body of the chambers in the country.
He said present government always attached great importance to the traders and respects the mandate of business community given to the newly elected office bearers of the federation in a true democratic manner. The minister said that the president and the prime minister also desired that top trade leaders, stakeholders and FPCCI must be taken into confidence in all the policy making decisions in the larger national interest.
When contacted President FPCCI Sultan Ahmad Chawala told APP today that the federation, in compliance of the aforementioned directive, will establish facilitation centres, one each at Karachi,Lahore,Islamabad and Peshawar, within a couple of days. He appreciated the decision of the prime minister and federal minister for production for these centres, saying these were the need of the hour.
He assured that the federation would co-operate with the government for the settlement, rehabilitation and adjustment of Pak expatriates in different sectors. Meanwhile, VP Saarc Chamber of Commerce and Industry,(SCCI) Pakistan chapter and veteran trade leader Ifikhar Ali Malik said that SCCI on the directive of the President Asif Ali Zardari had already established a special centre at Islamabad with website, landline and fax.
He observed that in view of worst ever global recession after world war, it's high time for all Pak-expatriates having liquidity to bring back home their life long savings and investments, especially from USA, UK, EU, Middle East and Dubai or else they may face irreparable loss.
"Their investments are now unsafe in foreign countries as bankruptcy is on rise. This is 100 per cent accurate and correct analysis-based on his 50-year rich experience and people must take full advantage of this opportunity", he explained.
Iftikhar said that there is great scope coupled with bright chances for investment at home in industry and production as there is no scope of trading at all world-wide. He said that due to recession, the prices of all products have declined up to 50 per cent of the total face value.
He further said that Pak potential investors of corporate sector on the basis of equity participation can now buy sick industrial units like knitwear, garments, textile and hosiery in the world facing acute financial crisis in the aftermath of global recession.
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