KARACHI: President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman expressed hopes that the prime minister will soon formulate a policy for the promotion of industries in the country and in this regard KATI will be at the forefront to present their suggestions.

He welcomed the announcement of the Rs1,800 billion Kissan Package and concessional loans for the agricultural sector by Prime Minister Shehbaz Sharif. President KATI said that the government should also give special incentives to the private sector so that foreign investment and industries can open in the country, which will not only eliminate unemployment but also increase the government’s income through export and tax collection.

He said that the agricultural sector was the most affected after the flood disaster and this package will eliminate the problem of the agricultural sector and food security.

Faraz-ur-Rehman said that in this package, loans should be given through Islamic banking, while a similar package should be announced for industries. President KATI said that the industrial sector in the country will help in eliminating unemployment and bringing foreign exchange through exports to the country.

He said that with the promotion of industries, the economic cycle will also run faster, which is urgently needed at this time.

He said that the government should give priority to the industrial sector along with agriculture.

Faraz-ur-Rehman said that unemployment has increased rapidly in the past due to Corona and the economic crisis, it is not possible to end unemployment with government jobs only, and the private sector is the only solution.

Copyright Business Recorder, 2022