KARACHI: Punjab Governor Baligh Ur Rehman during a visit to FPCCI Karachi has proposed a charter of economy to all the stakeholders to put an end to the political instability; lack of continuity of economic policies; loss of industrial production & exports and to curtail unemployment and poverty.
He particularly referred to the waivers on agricultural inputs on FPCCI’s recommendations and maintained that the current government is ever-willing to incentivize all sectors of the economy in general and export-oriented sectors in particular.
He added that he has come to the Federation House – which is home to the head office of FPCCI – to consult the prominent members of business, industry and trade community.
Irfan Iqbal Sheikh, President FPCCI said that FPCCI considers Baligh Ur Rehman as business-friendly and pro-education; and, the business community is looking forward to his facilitative role in communicating their concerns to the relevant federal ministers and various departments under their supervision.
He said that cost of doing business must be brought down and electricity gas and petroleum prices are major impediments in business and economic growth of Pakistan.
Sheikh further added that being the governor of the largest province of Pakistan, Baligh Ur Rehman can play a catalytic role in resolving the issues; mainly pertaining to cost of doing business.
He added that the business community has nothing to do with the politics; and, they only want continuity and harmony in economic, industrial, trade, fiscal and monetary policies.
Suleman Chawla, Senior Vice President FPCCI highlighted that textile sector is the backbone of Pakistani exports; and, the year 2021–22 has seen cotton production of only 8.3 million bales.
He added that it is pertinent to note that 65–70 percent cotton in Pakistan is produced in Punjab and requested the Governor Punjab to specifically raise this issue with the federal government as billions of dollars of precious and scare foreign exchange will be spent to import the deficit in domestic cotton production to meet export orders.
Mian Nasser Hyatt Maggo, immediate past President FPCCI, expressed his dissatisfaction that the present government has given incentives and waivers to only 2–3 sectors; while rest of the economy is suffering with a very alarming ease of doing business environment.
Copyright Business Recorder, 2022