ISLAMABAD: The government is taking steps to facilitate the business community, thereby, enabling them to achieve the set exports target.

This was stated by the Minister for Industries and Production, Rana Tanveer Hussain, during a meeting with the delegation of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) that met him on Friday.

The delegation led by its President Atif Ikram Sheikh has taken up the issue of energy during the meeting.

The minister said that the government is setting up special economic zones for investment and stated the country can achieve economic development only by increasing exports.

The government is trying to solve the problems faced by the industry.

The FPCCI president said that energy prices will have to be brought at par with regional countries.

The country has to move towards industrialisation and increase exports and if the government provides relief in the electricity tariff, the business community can achieve the export target of US$60 billion, said Sheikh.

Sources said that the FPCCI delegation termed the energy as a major hurdle for growth in industry and exports.

They also pointed out and maintained that already 25 to 30 percent industries have been shut down and if this situation persisted, more industries would be facing similar fate.

They added that agreement of Independent Power Producers (IPPs) can be revised because even those closed power plants are getting billion of rupees capacity charges.

Their suggestion was that forensic audit of IPPs should be conducted and contracts should be reviewed, adding that if there are any mistake is should be corrected and new contracts should be signed at appropriate rates, added the sources.

The minister assured the FPCCI delegation that he will take the issues raised by them to the concerned minister.

Copyright Business Recorder, 2024