President of Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has demanded that the industrialists should be provided relief by simplifying taxation system and reducing the number of government departments that deal with them in order to save their time.
He also demanded immediate refund to all export industries, steps to reduce cost of doing business and extra attention to the value-added sector. He asked the government to take note of India's industrial terrorism as that country was bent upon destroying Pakistan's textile sector, the backbone of economy. "India is working on a multi-pronged strategy to cause irreparable losses to Pakistan. It has initiated water terrorism followed by successfully pushing issue of Kalabagh dam into controversies," he said.
Mian Zahid Hussain said that India is targeting CPEC and now it has started industrial terrorism to damage Pakistan's textile sector to bankrupt us. He said Indian prime minister was overseeing external sector personally giving hidden subsidies to the textile sector while banks have been directed to issue loans on zero percent interest which had reduced cost of doing business of the competitors.
Mian Zahid Hussain said that on the other hand Pakistan's textile industry was going down by the passage of every day due to increased cost of doing business. He said the situation of investment and remittances were not satisfactory, exports was only option left to bridge budget deficit otherwise Country would have to rely on foreign loans which had already reached worrying proportions.
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