Prime Minister Shahid Khaqan Abbasi has announced that a 'tax incentive package' would be unfolded before the Budget 2018-19, but stressed that both the private sector and the government are needed to work hand-in-hand to achieve export targets. While addressing the inaugural ceremony of Fast Cable's CCV Plant, here at Sundar Industrial State on Saturday, the premier said that the government was striving to strike a balance between imports and exports through short and long term policies.
According to him, the availability of energy had been settled and the growth rate was hovering around 6 percent, which would further increase. The government wanted to further strengthen foreign investment framework by seeking input from stakeholders.
He said that the PML-N government has carried out historic work in different spheres, including infrastructure development and energy. "Journey of the country on the path of development and prosperity would continue," he said, adding: "Pakistan possesses huge potential to increase its exports by adhering to global quality and standards, which were pre-requisite for global competition."
The PM said: "The government had taken steps for facilitating the private sector investment with different incentives, which led to increase in the business activities and eventually boosted the exports." He added that the investment activities paved the ways for creation of jobs and generation of tax revenues. He added the government would continue to play the role of facilitator for the growth of businesses and continuity of policies.
He expressed the hope that the country's industrial sector would focus on improving quality, as latest technology and efficiency not only help in growing business activities but also help earn good profit.
Shahid Khaqan Abbasi said the government had provided gas, power and infrastructure facilities so that the cost of production could be reduced. "Pakistan was a market for billions of dollars investment and certain issues like tariff re-balance, cost of production and taxation system faced by the industry would have to be resolved," he said.
Talking about the performance of the PML-N government, he said that the PML-N government, which faced energy and power challenges, has resolved the energy issues, with production of 10,400 MW of power within five years. He added that the government had performed and resolved the energy issues for the next 15 years. Despite limited resources, about 1700-km six lanes motorway network was being completed, he added.
The premier ruled out any possibility of judicial coup or martial law in the country. He added that only the democratic system would thrive, as there was no room for any judicial martial law or any other coup. "Democracy will continue to prosper in the country."
He said that in the upcoming general elections in July, only the electorate would decide about the fate of next government and their decision would be accepted. After 1999 take-over, he said, a case was registered against the PML-N quaid Nawaz Sharif for establishment of Sundar Industrial Estate. "It was irony that those who served the country were punished. Those who served the country deserved respect," he insisted.
Congratulating the Fast Cables for establishing a state-of-the-art manufacturing facility, he said the industrial estate in the provincial capital made him happy that work was being carried out here as per by-laws which investors always look for. Fast Cables Director Kamal Mian in his address said the first CCV manufacturing facility could produce medium voltage cables upto 33KV using the latest dry curing technology.
Federal Minister for Commerce Pervaiz Malik, Minister for Kashmir Affairs Barjees Tahir, State Minister for Industries and Production Arshad Khan Leghari and Punjab Minister for Industries Sheikh Allauddin were also present on the occasion.
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