KARACHI: Federal Minister of Commerce and Industry Jam Kamal Khan has assured complete support of his ministry and the government of Pakistan under the vision of Prime Minister to boost Pakistan’s economy and increase ease of doing business.
He said that the survival of the Pakistan economy is directly connected with the performance of both the Commerce Ministry and the Chambers of Commerce. The trade officers on missions have been especially assigned to promote the trade and commerce of the country, he further added.
He said that the August 28 strike is the right of traders. The Prime Minister will announce a tariff board soon in the next two weeks, he said speaking at a meeting of Federation Chamber of Commerce and Industry on Friday.
He said that the free trade agreements were not in the interest of the country and they have harmed Pakistan rather than benefiting it.
The situation remains serious, political situation and uncertainty have increased, including the IMF conditions, there are numerous difficulties and uncertainty, he said.
On the concern of the business community briefed him about load shedding, increase in gas and electricity tariffs. He said that the economic situation of the country was severely affected after Covid-19, and there was a time when the situation was very serious and moving towards a default.
Jam Kamal said that many things have been documented in the last five months. Today, relations between countries around the world are based on economy, he said.
TDAP Chief Executive Zubair Motiwala said that textile exports will be further reduced due to high electricity and gas prices and high interest rates. The government should review the issue of trader-friendly scheme and turnover tax, he suggested.
However, traders and industrialists demanded the federal minister to boost exports by including the suggestions of the business community in the free agreements being signed by the Ministry of Commerce.
Senior Vice President, FPCCI Saquib Fayyaz Magoon said that the Prime Minister’s vision of $60 billion exports by 2028 is supported, but for this major changes are needed at the policy level.
Copyright Business Recorder, 2024
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