Industrialisation, promotion: bureaucrats, legislators asked to give 50 percent working time to promotion of trade

The Multan Chambers of Commerce and Industry (MCCI) has urged the government functionaries and parliamentarians to spend 50 percent of their working hours exclusively for promotion of industrialisation and trade in the country, as strong economy is the answer to all problems.
MCCI President Shahid Naseem Khokhar on Friday called upon the people, especially the youth, professionals and media to support trade and industry as this century is of growing economies and not wars. Soviet Union was disintegrated only because of deteriorating economy, he remarked.
Highlighting the role of MCCI, he said that being a trade body of the country, it has been and will be using all channels/options for trade and industrial growth in the country. Parliamentarians of southern Punjab, including Prime Minister Yousaf Raza Gilani, Javed Hashmi, Shah Mehmood Qureshi, and Senators Salahuddin Dogar and Javed Ali Shah should use that fora for resolution of trade and industry problems and help the government in formulation of better economic policies in future, he added.
The MCCI president emphasised that the government should take private sector on board while making important decisions and policy making, which are likely to influence trade and industry directly or indirectly. The recommendations from all major trade bodies especially from MCCI should be duly incorporated in the federal and provincial annual budgets so that the budgetary targets could be met. He cited examples of Turkey and some other countries where annual budgets are not approved until their federation of chambers gives green signal.
He said that within next couple of days, MCCI would send its budget recommendations to the government. He said that China has emerged as a fast growing economy of Asia by extending all support, incentives and facilities to private sector. In China, investors get smooth supply of electricity and gas free of cost, besides other required utilities and standard infrastructure. This has given boost to investment there, he added.
He reiterated business community's demand that industry and trade be provided uninterrupted gas and power supply at affordable low tariff and that the interest rate be reduced to single digit to encourage investment in the country. He also demanded that tax rate should be cut down and the government should increase its revenue by widening the tax net and checking alleged corruption in tax collection system. Law and order is another serious concern for the business community, which should be effectively addressed, he said.