The President Rawalpindi Chamber of Commerce and Industry (RCCI), Jawed Akhtar Bhatti has said that in prevailing scenario awarding (MFN) Most Favourite Nation status to India will devastate local industry. Deteriorating law & order situation owing to war against terror and energy crunch has badly affected the country's economy, cost of doing business has increased and in prevailing condition the said decision will wipe out local industry.
He was exchanging these views with the Secretary Ministry of Industries, Abdul Aziz Bilour during his visit to ministry of industry here on Tuesday. Senior Vice President Raja Amer Iqbal, members' executive committee Noman Khan, Kazim Hassan and Manzar Khursheed were also included in the delegation.
President RCCI Jawed Bhatti said that ministry must play its due role to promote industry culture in the country and facilitate the business community in this regard. He demanded of the secretary to support the local industry by taking measures to awarding MFN status to India after 5 years. "So that local industry should stand on her feet to compete with the Indian market", he said.
He further said that in terms of taxation, industrial sector contributes 62 percent share of the country and if the MFN implemented; government will loss a huge amount of revenue. Government must take the stockholders on board in policymaking process, he added. Secretary Ministry of Industries Abdul Aziz Bilour said that Rawalpindi Chamber is contributing a lot in national exchequer, vowing that ministry will take every possible step to support business community. He also ensured his co-operation to the President RCCI in this regard.-PR
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