Chairperson of Senate Standing Committee on Industries, Production and Special Initiatives Senator Anisa Zeb Tahirkheli has said that the committee is preparing a comprehensive report on potential and problems faced by the industrial sector.
Speaking at a meeting with Karachi Chamber of Commerce and Industry (KCCI) on Saturday evening, she said that during first meeting of the committee it was decided that the committee members would visit various chambers and trade bodies in the country to know the ground realities, being faced by the industries.
She said that after compiling the report, the committee would hold meetings with the secretaries of industry, production, finance, commerce and others. They would be requested to take appropriate measures to remove problems, which hampered investment in industrial sector and working of industrial units, she said.
She praised the Karachi Chamber of Commerce and Industry (KCCI) budget proposals, and said that she would take up these suggestions with the finance minister for incorporating them in the budget.
Member of the Senate Standing Committee Senator Muhammad Amin Dadabhoy, who is also the Chairman of Senate Standing Committee on Commerce, stressed the need for holding a joint meeting of the Senate Standing Committees on Industries and the Commerce to discuss the issues of industrial and economic development of the country.
Criticising the working of the government departments, he said that the Board of Investment (BoI) website did not have full information required by the investors. He assured the Karachi Chamber of Commerce and Industry (KCCI) members that efforts would be made to incorporate their suggestions in coming budget.
He agreed with the KCCI that a free trade zone be established at Port Qasim. Another member of the standing committee, Senator Ilyas Ahmed Bilour, said that the Federal government was in a very bad shape.
The government had no finances to pay back the State Bank loans, inflation was on the rise, exports were declining, the poor people were facing hardship and the industries were closing down and the number of jobless people was increasing unemployment in the country.
He said that another big problem faced by the country was that of under-invoicing. Giving example of China, he said that the Chinese government claimed that its exports to Pakistan came to around five billion dollars, but the Pakistan side claimed that its imports from China accounted for three billion dollars.
He opposed import of different goods in one container, as it created a host of problems. He agreed with a proposal that goods, coming under Afghanistan transit trade, must pay duty on arrival at Pakistani ports and the same would be refunded when the goods enter Afghanistan customs.
Former President of Karachi Chamber of Commerce and Industry (KCCI) Siraj Kasim Teli noted that Pakistan had recently allowed India to export wheat to Afghanistan via Wagah border under transit trade, and demanded that India should also allow export of Pakistani good to Nepal and Bangladesh in same way Teli criticised imposition of 35 percent letter of credit (L/C) margin and increase in interest rates to control inflation. It would not reduce inflation, rather it would increase inflation, he added.
Welcoming the guests, Karachi Chamber of Commerce and Industry (KCCI) President Shamim Ahmed Shamsi suggested that a free trade zone be established at Port Qasim, or existing export processing zone be converted into a free trade zone to facilitate trading and warehousing on an international scale.